Monday June 28, 2010

ConAgra Snack Sales Steady

Omaha, NE — Posting quarterly sales of $2 million for its consumer foods division, ConAgra Foods, Inc. says this represents a four percent decrease from the same period in 2009.

However, the Slim Jim and Snack Pack maker points to unit volume increases of three percent and says snacks were among its top-performing sales segments.

Terry Biven, equity researcher at J.P. Morgan, suggests growth for the company will be “subdued,” despite plans to acquire businesses in the short-term.

“Acquisitions will help in consumer foods, but the absence of price growth, challenging competitive dynamics and a slowing of the company’s private label sales are apt to weigh on organic growth,” Biven says.