Hormel Achieves $2 Billion New-Products Sales Goal
Hormel Foods Corp. announced that it's met its ambitious “Go for $2B by 2012” goal by achieving $2 billion in total sales from new products created since 2000 by the end of fiscal year 2012.
According to the company, this follows its having met an earlier goal of generating $1 billion in new-product sales in the decade commencing in 2000. That goal was achieved two years early, by the end of its fiscal 2007.
Key new products/lines contributing to the sales growth have included Hormel's party trays, Natural Choice deli meats, Compleats microwave meals and Jennie-O Turkey Store oven-ready items and turkey burgers.