date:Feb 25, 2013
Lower hog volumes weakened sales in the refrigerated foods unit, while higher grain costs and lower commodity turkey meat prices hindered margins at the Jennie-O Turkey Store, yielding a 23% decrease in operating profit for the segment.
The value of our balanced business model was again on display as strong results by our specialty foods, grocery products and international/all other segments offset weaker results by our Jennie-O Turkey Store segment, said Jeffrey Ettinger, president and chief e