Hormel looks ahead

摘要

Hormel Foods Corp. remains focused on its goal of 5 percent top-line growth, 10 percent bottom-line growth and margins in the top quartile of the company's peers in the next three years. But the company faces numerous challenges along the path to success in 2020. Second-quarter earnings declined 29 percent in the company's Jennie-O Turkey Store business. Sales in the segment fell 8 percent, while volumes declined 6 percent. President and CEO Jim Snee attributed the performance to weakness in turkey prices, increased competition and increased expenses.