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Hormel Foods Corporation (NYSE: HRL), headquartered in Austin, Minnesota, is a globally recognized Fortune 500 company, noted for its extensive portfolio of consumer-branded food and meat products. Renowned for quality, taste, and nutrition, Hormel Foods has built a strong reputation among consumers, retail grocers, foodservice, and industrial customers. The company’s diverse product range includes hams, bacon, sausages, franks, canned luncheon meats, stews, chilis, hash, meat spreads, shelf-stable microwaveable entrees, and salsas.
Historically meat-focused, Hormel Foods has broadened its offerings to include various protein sources, becoming a comprehensive branded food company. Its major brands like Hormel, Spam, Jennie-O, Columbus, Applegate, Planters, and Skippy hold dominant market positions in their respective categories. In fiscal 2023, U.S. retail accounted for 64% of sales, U.S. food service for 30%, and international sales for 6%, with 70% of sales from perishable food and 30% from shelf-stable products.
Recently, Hormel Foods has demonstrated strong performance across its business segments, particularly in the first quarter of fiscal 2024. The company’s strategic initiatives in transformation and modernization have shown promising results. Highlights include broad-based volume growth, robust demand for foodservice products, and significant progress in their Planters® snack nuts business. CEO Jim Snee emphasized the team's focused execution of strategic priorities and improvements in the supply chain, which have positively impacted the company’s growth trajectory and shareholder returns.
The company's ongoing projects include the redesign of the HORMEL® NATURAL CHOICE® product packaging, reducing packaging material by 337,000 pounds annually, and introducing HORMEL® Ribbon Pepperoni, aimed at improving pizza preparation efficiency for foodservice operators. Additionally, Hormel Foods continues to support young innovators through its 10 Under 20 Food Heroes program, recognizing and mentoring youth driving positive change in the food system.
Hormel Foods Corporation reported strong financial results for the second quarter of fiscal 2024, with continued growth in the Foodservice and International segments, improvements in the supply chain, and stable volumes across its business. The company remains focused on strategic initiatives to drive long-term growth and shareholder returns, reaffirming its commitment to excellence in quality, sustainability, and community impact.
For more information, visit www.hormelfoods.com.
Columbus Craft Meats has launched three new exclusive charcuterie kits available on its website. The kits, named The Unexpected, Rustic Beauty, and Smoky Vibes, offer unique flavor profiles for a gourmet experience. Each kit is paired with easy-to-follow recipes by Evan Inada, the company's charcuterie director. These offerings aim to enhance social gatherings by making charcuterie accessible while celebrating its culinary art. The brand continues to expand its culinary inspirations with future recipe releases.
The PLANTERS® brand, part of Hormel Foods, collaborates with Reginald VelJohnson to celebrate the holidays with a new music video titled, 'A Nutty Holiday.' This festive production aims to reunite families after a year apart, featuring nostalgic elements and a giveaway of limited-edition 'nutstalgia' gift boxes. Fans can enter for a chance to win these boxes until December 31. Hormel Foods, with over $10 billion in annual revenue and a commitment to community service, continues to innovate its holiday marketing strategies.
Hormel Foods Corporation (NYSE: HRL) announced its annual profit sharing for eligible team members, marking the 83rd consecutive grant. The amount varies yearly based on company performance, with past distributions ranging from $14 million to $17 million. This tradition, initiated in 1938, recognizes the hard work of employees, especially during the pandemic. Hormel Foods, with over $10 billion in annual revenue and a wide portfolio of brands, emphasizes its commitment to rewarding its team and giving back to communities.
Jennie-O Turkey Store collaborated with YouTube star MrBeast to provide 10,000 free turkeys to families in Greenville, N.C., during a recent event. This initiative marks the largest single donation in the company's 80-year history, valued at $266,000, distributing 120,000 servings of turkey. Almost 700 volunteers participated, including local officers and community members. Hormel Foods, Jennie-O's parent company, also contributed with additional product donations. MrBeast emphasized the importance of such partnerships in tackling food insecurity.
The Board of Directors at Hormel Foods Corporation (NYSE: HRL) has announced a 6% increase in the annual dividend, raising it from $0.98 to $1.04 per share. This marks the 56th consecutive annual dividend increase. The first quarterly dividend of $0.26 per share will be paid on February 15, 2022, to shareholders on record by January 18, 2022. Hormel has consistently paid quarterly dividends since going public in 1928, demonstrating a solid commitment to shareholder returns.
Hormel Foods Corporation (NYSE: HRL) announced the recognition of its internship program, ranking No. 84 on Vault's 2022 list of 100 Best Internships. The company also secured key positions in specialized categories, including No. 6 for Sales, Marketing & Communications and No. 9 for Engineering. Over 11,000 interns participated in the survey assessing various aspects of their internship experience. Hormel Foods is currently seeking interns for summer 2022, with opportunities across various facilities. For more information, visit hormelfoods.com/careers.
Hormel Foods Corporation (NYSE: HRL) announced the recipients of the 2021 Hormel Heroes Scholarships, each valued at $10,000. The program supports military students pursuing degrees in culinary arts or foodservice management. Recipients include Christina Gilman, a U.S. Marine Corps sergeant, and Rose Picard, a U.S. Army veteran. Gilman is studying hospitality management while Picard focuses on baking and pastry arts. Hormel Foods, a global food company with over $10 billion in annual revenue, partners with the National Restaurant Association Educational Foundation to provide this financial aid.
Hormel Foods announced the launch of limited-edition HORMEL® BLACK LABEL® Bacon Wrapping Paper, scented with bacon and featuring a decorative pattern. This unique wrapping paper aims to enhance holiday gifting experiences. From November 9 to 26, participants can enter to win this wrapping paper, along with gift tags and decorative ribbon, while Hormel Foods will donate $1 to the Salvation Army's Angel Tree program for each entry, up to $10,000. Coolio will promote the product through a video series called 'Wrappin' with Coolio.'
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