Dec 22 ConAgra Brands Inc, the maker of
Chef Boyardee pasta and Hunt's ketchup, reported
lower-than-expected quarterly sales, hurt by a strong dollar and
as it discontinued sales of less-profitable products.
The company posted quarterly results for the first time
since spinning off its Lamb Weston frozen potato business in
November to become a branded-foods only company.
Net income attributable to ConAgra fell to $122.1 million,
or 28 cents per share, in the second quarter ended Nov. 27, from
$154.9 million, or 35 cents per share, a year earlier.
Net sales fell to $2.09 billion from $2.36 billion a year
earlier, below the average analyst estimate of $2.11 billion,
according to Thomson Reuters I/B/E/S.
(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by