Sales dip 1% in the quarter.

Executives voice both optimism and caution discussing outlook.

Stock price drops to lowest level since 2021.

Two closings set for New York, one in Texas.

Company acquired former Angelic Bakehouse facility in June.
 

Hurdles include inflation, consumers with less disposable income and rising labor costs.

Approximately 200 to be laid off around the world.

Will begin laying off employees in September.

Latest major attempt for company to expand into dessert sector.

Company expects net sales of flat to negative 1.5% for fiscal 2025.