Interstate Bakeries, the largest wholesale baker in the US, has said that weak sales, high product returns and escalating energy costs would cut its expected profit - according to an Associated Press report.
The bakery company said that as a result of the profit shortfall, it has begun to close 100 underperforming thrift stores. The company did not mention how many jobs are threatened.
The company expects to report a loss for the fiscal third quarter ending March 8, but anticipates a profit in the fourth quarter.
Analysts had predicted improved results for the third and fourth quarters, but are now expected to reassess those expectations.