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The J. M. Smucker Company (SJM) announced its second quarter financial results for fiscal 2014, reporting a small increase in earnings that disappointed expectations. The company, which operates under several trademarks outside of its namesake, includes Jif, Folgers, Dunkin Donuts, and Crisco, reported a 4.2% decrease in sales. Sales of $1.56B, though lower than a year ago, are the result of lower commodity prices, while volumes increased. Earnings were up from $148.8M and $1.36 per share to $153.4M and $1.46 per share while its gross margin improved from 33.3% to 35.4%. Smucker lowered its earnings guidance for the year, now predicting a 2% decline from last year instead of its first-predicted 1% decline.