"We are pleased to have achieved another record quarter,"
Hormel representatives also kept its fourth-quarter share range at
Hormel experienced a 101 percent segment profit increase in its refrigerated foods division and a 42 percent profit increase in its
Ettinger also pointed out Hormel's high growth in mexican food brands and REV wraps. According to Ettinger, REV wraps earned about
"That's one of our best-ever first-year performances on a brand," he said.
Hormel also plans to introduce breakfast REV wraps to the market in the near future.
Despite the huge increase in refrigerated foods, operating profits declined 36 percent in grocery products and 25 percent in specialty foods products.
High input costs and subsequent price discounting affected the grocery products segment, though Skippy peanut butter and
The specialty foods division was still affected by Hormel's loss of the Diamond Crystal Brand agreement last year. Hormel's acquisition of
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