CORRECTED-Hormel Foods profit falls 2 pct
(Corrects name of segment to Jennie-O Turkey Store, from Jennie-O Turkey Stores)
May 23 (Reuters) - Hormel Foods Corp reported a lower quarterly profit due to costs related to its Skippy acquisition, and higher grain costs and lower turkey meat prices at its Jennie-O Turkey Store business.
Second quarter net income fell to $125.5 million, or 46 cents per share, from $127.9 million, or 48 cents per share, a year earlier.
Sales rose about 7 percent to $2.15 billion in the quarter. (Reporting by Arpita Mukherjee in Bangalore)
- Housing, jobs data weaken, but overall economic picture still upbeat
- Target cyber breach hits 40 million payment cards at holiday peak |
- 'Duck Dynasty' anti-gay fallout sparks debate on religion, tolerance
- UPDATE 3-Saab wins Brazil jet deal after NSA spying sours Boeing bid
- Zuckerberg to sell Facebook shares worth about $2.3 billion |