Smucker's says big coffee price increase was a 'misstep'
November 19, 2014 at 13:05 PM EST
NEW YORK (Reuters) - J.M. Smucker Co, the maker of Folgers coffee, said on Wednesday it made a "misstep" with its most recent price increase, which caused sales volumes to drop sharply as customers delayed purchases and shifted to cheaper private-label brands.