Brisk Spam Sales Help Boost Hormel's Profits
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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