Net income fell 16 percent at ConAgra Foods in its second fiscal quarter because the company struggled with higher commodity costs in a competitive market.
The company, based in Omaha, said on Tuesday that it expected to deliver better results in the second half of the year because it would raise prices and change its approach to better appeal to shoppers’ new sensibilities.
“We clearly understand that consumers are being more discriminating in their spending choices,” the chief executive, Gary M. Rodkin, said Tuesday.
ConAgra initially benefited from the economic downturn because more people ate at home. But higher costs for ingredients and a tough selling environment have started to weigh on the food maker.
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