Hormel Profit Up, But Misses Forecast

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Got SPAM? :-

AUSTIN, Minn. (Reuters) - Hormel Foods Corp. (HRL.N),
maker of SPAM luncheon meat and Dinty Moore beef stew,
said on Wednesday that net income rose a lower than
expected 2.2 percent in its fiscal fourth quarter due to a
slowdown in grocery product sales.

. . .

The company said fiscal first-quarter sales will be weak
compared with last year due to Y2K-related shipments, but
comparisons should improve in the second and third quarters.

AltaVista Live

-- spider (spider0@usa.net), November 23, 2000

Answers

Y2K jitters made it a very good year for Spam

"You can imagine with Y2K and all that how
many cans of Spam we sold," said Al Lieberum,
plant manager for Dold Foods in Wichita, a
Hormel subsidiary. A memo to employees from
Hormel president Joel Johnson congratulated
the workers on their response to what he called
"the phenomenon of Y2K."

Seattle Times

-- spider (spider0@usa.net), November 28, 2000.


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