Del Monte's Revenue Up As Consumers Eat at Home More
Del Monte Foods Co. did better than expected for the second quarter. The canned food giant increased the amount of vegetables it sold. The prices were also higher on canned food. Bloomberg reports:
Net income climbed 24 percent to $62.6 million, or 31 cents, from $50.4 million, or 25 cents, a year ago, the San Francisco-based company said today in a statement. Sales in the three months ended Nov. 1 rose 6.4 percent to $958.9 million.
Sales of vegetables and packaged produce were up 9.1% as more consumers eschew eating out in favor of eating at home. Del Monte stock is up 58% this year so far.
