USA: Hormel Foods sees drop in Q2 sales, earnings
Austin, Minn.-based branded meats and foods producer Hormel Foods Corporation has posted net earnings of US$32.7m for its Q2 ended 27 April 2002, down 22% from US$41.8m year on year. Q2 earnings per share had also dropped 23% to US$0.23, from US$0.30 in the Q2 2001, and Homel saw Q2 dollar sales of US$955m, down from US$962m year on year. Volume was down 1% versus the comparable Q2 2001.
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