Why J&J Snack Foods Stock Was Up 11% This Week
J&J Snack Foods (NASDAQ: JJSF) shareholders beat the market this week. The stock gained 11% through Thursday trading compared to a 1.1% decline in the S&P 500, according to data provided by S&P Global Market Intelligence. That rally helped extend the packaged foods specialist's 2022 outperformance. The stock is down just 1% so far this year compared to a 17% decline in the wider market.
It was sparked by an earnings report that was well received on Wall Street.
J&J Snack Foods said in a Monday earnings announcement that sales jumped 24% in the fourth-quarter selling period, which ended on Sept. 24. That result marked an acceleration over the prior quarter's 17% increase and reflected strong demand for its food products, including pretzels, churros, and frozen beverages. "We are pleased with our strong top-line growth across all three of our business segments," CEO Dan Fachner said in the filing.
Source Fool.com
