" … net sales declined 3% for the year, mostly due to lapping sales from the divested canned milk business," Mr. Smucker said. "Looking briefly at the key brands, we are pleased with the overall performance of our spreads business, as both Jif peanut butter and Smucker's fruit spreads grew volume share over the latest 52-week period. In addition, Smucker's Uncrustables frozen sandwiches had another strong year, with volume up 26%, including a 17th consecutive quarter of double-digit volume growth in this most recent fourth quarter."