Flowers Foods dips on annual forecast cut

Baker Flowers Foods FLO.N down about 4.1% at $15.90 in afternoon trading

Co lowers annual net sales growth forecast range to about 2.7% to 4.0%, below prior guidance of 3.8% to 5.7%

Forecasts annual adj per-share profit between $1 and $1.10, below $1.05 to $1.15 outlook

FLO says guidance reflects softness in traditional loaf sales and more intense competitive environment

Co reports Q2 net sales of $1.24 bln, slightly missing estimates of $1.27 bln, according to data compiled by LSEG

YTD, stock has fallen nearly ~23.04%