UPDATE 3-Promotions weigh on Flowers Foods results, cuts FY view

* Q3 EPS $0.34 in line with est

* Q3 sales up 4.6 pct at $602.6 mln, miss est

* Trims 2009 outlook

* Shares down as much as 8 pct (Adds analyst comments, updates share movement)

By Mihir Dalal

BANGALORE, Nov 11 (Reuters) - Flowers Foods Inc (FLO.N) posted quarterly sales below market estimates and cut its full-year outlook, as the baker's product prices came under pressure from intense promotional activity by competitors, sending its shares down 8 percent.

Flowers Foods, which competes with Sara Lee (SLE.N), George Weston (WN.TO) and Interstate Bakeries, introduced promotional pricing earlier this year to protect its market share.

"The promotional pressure is pretty broad-based... it is especially severe in Florida, Southern California, Arizona and Texas," BB&T Capital Markets analyst Heather Jones said.

However, Jones doubts if Flowers Foods' competitors can keep up the promotional spending.