By Matthew Dalton

PARIS--Danone SA (DANOY) Monday lowered its sales guidance for this fiscal year, citing weakness in the Spanish market and problems rolling out a new "brand identity" in Europe for its yogurt product Activia.

The company said Activia's new brand had been "well received" by consumers. "Nevertheless, local execution plans are being reworked and teams have already started to implement them country by country."

Danone didn't specify what the new guidance would be, only that it would be lower than its previous target of 3-5% sales growth for the year.

Write to Matthew Dalton at matthew.dalton@wsj.com

(END) Dow Jones Newswires

December 19, 2016 02:47 ET (07:47 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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