Conagra Foodservice Volume Gains Contrast Retail Weakness

Dow Jones
Yesterday

Conagra Brands' Foodservice segment posted a 3.3% increase in fiscal 1Q organic net sales, driven by a 2.5% volume gain. Foodservice volumes benefited roughly 150 basis points from the timing of customer orders that occurred in 3Q last year, the company said. The performance contrasts with domestic retail weakness, where organic sales fell 2.0% in Grocery & Snacks and 1.6% in Refrigerated & Frozen. Grocery & Snacks volumes dropped 5.4%, while price/mix gains of 3.4% partially offset the decline

 

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