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Dean Foods Serves Up First-Quarter Loss

M. Corey Goldman

reported a wider-than-expected first-quarter loss on Tuesday as the company continues to focus on its restructuring efforts in the face of increased competition and declining milk consumption. The Dallas-based company, which owns the Friendly's ice cream brand, posted a first-quarter adjusted loss of $38 million, or 41 cents a share, compared with a profit of $13 million, or 14 cents a share, in the comparable year-earlier period. Dean Foods in February announced plans to restructure and has received roughly half a dozen offers for various parts of its business, including the Friendly's operation, The Wall Street Journal reported on Monday.