Hormel third-quarter profit rises 49 percent despite sales drop

Hormel Foods, maker of Spam, Dinty Moore stews and Chi-Chi's Mexican products, said today that its third-quarter profit rose 49 percent as costs fell.

[Bah Humbug]

Love that spam. The chili could use a bit of spice, though.

[IrishMN]

This is a great example of why the government needs to take over the business sector in this country.

This company has a sales decline, yet their profits rise by 49%????

It only goes to show how BIg Business over prices their goods every single time they can. Take the profit out of business and this country will be much better off.

[Grew up on Spam]

Yay Hormel!! Keep it going...
IrishMN--you're nuts.

[Sarah D]

IrishMN wrote:

This is a great example of why the government needs to take over the business sector in this country.
This company has a sales decline, yet their profits rise by 49%????
It only goes to show how BIg Business over prices their goods every single time they can. Take the profit out of business and this country will be much better off.

Capitalism needs regulation but you don't want the government to take over all businesses. They had that in the Soviet Union and in Red China and you know what? It didn't work. Products in the Soviet Union were notoriously bad because there was no real incentive to make them better.

Those products that were good were usually meant for export to other countries in order to bring in needed money. Same with Red China. Both countries have now changed over to capitalism albeit with continued restrictions in China.

Furthermore in this case if you don't like how Hormel has priced its products you have the choice of not buying them. This isn't healthcare. You're not going to risk your life by refusing to buy Spam.