Hormel Hits Record Sales, Profits, As Bacon & Lunch Meats Thrive

Hormel Foods Corp. is still taking a beating from America's oversupply of turkeys, but executives say the end is in sight.

The Austin, Minn.-based foodmaker reported record sales and record profit Thursday, but still missed analysts' expectations for its second quarter ending April 29.

Chief Executive Jim Snee said recent acquisitions, like deli meat brands Fontanini and Columbus, helped bolster the numbers as Hormel navigates volatile hog prices and a national shortage of freight trucks.

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