Heinz, Hormel optimistic about sales in 2010

U.S. food makers H.J. Heinz Co (HNZ.N) and Hormel Foods Corp (HRL.N) said they expect sales to rise in the coming months as consumers stick to more frugal habits such as eating meals at home instead of going out.

Still, results in the latest quarter failed to impress investors, who had expected both companies to get more of a lift from Americans' constrained dining habits in the downturn.

Heinz, which makes ketchup and Ore-Ida frozen potatoes, posted a lower quarterly profit on Tuesday, hurt by sales declines in North America and Europe. But it is optimistic about sales heading into the second half of its fiscal year and raised its 2010 profit forecast.

Read Full Article from Reuters

- Posted: 2009-11-24 11:21:26

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