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Despite softness, Hormel still bullish on Skippy


Food Business News

Strong sales growth and lower turkey and pork costs led to a record first quarter for Hormel Foods Corp.

The company earned $172,430,000 for the period ended Jan. 25, equal to 65c per share on the common stock, up 12% from $153,348,000, or 58c per share, in the prior-year quarter. Net sales rose 6.8% to a record $2,395,073,000, which compared with $2,242,672,000.