News Brief
Hormel: Spam Pushed Q1 Profits Way Up
Feb 18, 2008, 5:00 AM
Sales of Spam and lower pork costs boosted first-quarter profits at Austin, Minn-based Hormel Foods, the company said on Friday.
Sales were up 8% over the year-ago period, to $1.62 billion. Hormel cited a 10% hike in sales of its grocery products, including Spam and Compleat microwaveable meals.
Earnings were $88.2 million, or 64 cents per share, up from $75.3 million or 54 cents per share a year ago.
Hormel's Jennie-O Turkey Store unit showed a 16% increase in profit that the company said was due to higher prices, product mix and manufacturing efficiencies.
--Nina M. Lentini
Recent Marketing Daily Articles
-
Nissan Opens Door To Versa Launch June 19, 2:18 p.m.
Nissan’s new Versa Note is a "A Door to More" in the automaker’s campaign for the ... -
Saks Fifth Avenue Rolling Out New Campaign June 19, 11:12 a.m.
Saks Fifth Avenue is debuting a new marketing campaign, which it hopes will sell shoppers on ... -
JetBlue, Marriott Top Their Industries June 19, 12:23 a.m.
Just as the summer travel season heats up, the American Customer Satisfaction Index (ACSI) has released ... -
Evian Launches Wimbledon 'Wiggle' Social Effort June 18, 5:20 p.m.
<Evian -- no slouch at driving buzz during the Wimbledon tournament -- has come up with ... -
GMA/PwC Report: CPGs' Growth Slows Amid 'Rules' Shift June 18, 3:56 p.m.
Net sales growth rates for consumer packaged goods (CPG) companies slowed last year amid challenges including ... -
Industry Is Expanding In Advertising, Social June 18, 12:29 p.m.
Retailers are planning to spend big on more stores, digital technology and marketing initiatives in the ... -
Chevrolet's Fleck Talks Northeast Strategy June 18, 9:23 a.m.
Bill Fleck, Chevy's Northeast regional marketing manager, has a lot of work to keep him up ... -
Affluence Not Just For Affluent June 18, 8:58 a.m.
For affluent consumers, traditional media is still the way to go, per the latest monthly study ... -
Marriott Modifies Marketing Message June 17, 3:47 p.m.
Holiday Inn Express may advise people to “Stay Smart,” but Marriott Hotels wants to be more ... -
DeMoulin: Booming Licensing Show = Booming Business June 17, 9:05 a.m.
The Licensing Expo starting on Tuesday is the largest such event in the world, bringing 16,000 ...
Be the first to comment on "Hormel: Spam Pushed Q1 Profits Way Up "
Leave a Comment