Brisk Spam Sales Help Boost Hormel's Profits

As rising oil prices and food prices eat into household budgets, people are shifting to more affordable edibles. Spam's maker, Hormel, has seen a 14 percent jump in profits for the recent quarter — in part because its famous canned meat product is selling so well, the company says. The average 12-ounce can costs $2.62.

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RENEE MONTAGNE, host:

Rising oil prices and rising food prices are eating into household budgets. Enough people are shifting to more affordable edibles that it's given one iconic food product a boost. Our last word in business is Spam. Spam's maker, Hormel, has seen a 14 percent jump in profits for the recent quarter. In part, it says, because its famous canned pork meat is selling so well.

ROBERT SMITH, host:

But, Renee, the company didn't say which variety of Spam is giving the biggest boost to sales. I mean, sure, you've got your classic Spam, but what about hickory smoked or hot and spicy Spam. You've got Spam with cheese, Spam with bacon. And for the health-conscious Spam lover there are low-sodium and low-fat Spams.

But think what you will about canned meat, it is affordable. The average 12 ounce can is still a bargain at $2.62.

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