Gary Rodkin, ConAgra Foods’ chief executive officer, commented, “We are pleased with our progress in both operating segments. The quarter’s higher-than-planned comparable EPS reflects strong double-digit operating profit growth for our Commercial Foods segment, which has successfully overcome difficult operating conditions and implemented pricing. We are encouraged by our progress in fighting inflation in the Consumer Foods segment; volumes for that segment have performed largely as expected given ongoing price increases. The marketplace environment remains difficult due to continuing inflationary pressures and the impact of the current economy on consumers, so we are cautious about business conditions. Our team is managing through these circumstances well by focusing on net price realization, productivity, and appropriate brand support, and we are confident in our ability to deliver our overall EPS and cash flow expectations for the fiscal year.”
The above comments about inflation are quite telling about our economy in general... even the giants of the industry continue to be challenged... for the complete story, click the link above...
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