Hormel’s retail segment hit by Q3 commodity turkey and snack nut declines
Hormel Foods reported Q3 earnings of 37 cents per share on $2.96 billion revenue, missing estimates. The retail segment declined due to turkey and snack nut volume drops, while foodservice and some brands performed well. The stock fell 9%. The company attributed the retail decline to portfolio changes and commodity market pressures, according to management.







