In A Jam
It was a grim day for the condiments industry.
H.J. Heinz reported a 19-percent drop in quarterly profits. Apparently, strong ketchup sales weren't enough to offset a slump in the British soup market. Damn limeys making it tough on everyone...
On the plus side, the Italian baby food market is looking up after several quarters of weakness. Yay for all the bambinos!
In other bad news, J.M. Smucker Co. shocked the market with a 9-percent drop in profits that came out of left field. Panicked investors dumped shares, sending the stock down $3, to about $45 a share.
Thankfully, industry analysts had dedicated men and women behind the line to figure out what was going on.
Are we no longer a nation of dougboys and famished, starch-deprived men named Jack?
H.J. Heinz reported a 19-percent drop in quarterly profits. Apparently, strong ketchup sales weren't enough to offset a slump in the British soup market. Damn limeys making it tough on everyone...
On the plus side, the Italian baby food market is looking up after several quarters of weakness. Yay for all the bambinos!
In other bad news, J.M. Smucker Co. shocked the market with a 9-percent drop in profits that came out of left field. Panicked investors dumped shares, sending the stock down $3, to about $45 a share.
Thankfully, industry analysts had dedicated men and women behind the line to figure out what was going on.
"It definitely was a weak quarter," said Longbow Research analyst Alton Stump. "Our trade contacts were saying that the company was having a tough time in the baking mix category." Products in that business include Pillsbury desserts and Hungry Jack pancakes.What is this country coming to when Pillsbury peanut butter fudge-topped chippers and Hungry Jack cheesy potato corn cakes aren't selling?
Are we no longer a nation of dougboys and famished, starch-deprived men named Jack?
<< Home