Hormel Has Sold Meat Products in Grocery Stores for Over a Century. But Almost 50% of Its Profits Comes From Outside Grocery Stores Today.
Now over 130 years old, Hormel Foods (NYSE: HRL) is an American institution. The company invented canned ham in 1926, and I personally celebrate its ingenuity by cracking open a can of Spam every time I go camping.
Of course, I pick up cans of Spam from the grocery store. And this is where consumers can find a variety of other Hormel products as well. The company has many well-known brands such as Jennie-O turkey products, Chi-Chi's salsas and sauces, Skippy peanut butter, and more.
These products resonate with shoppers. And indeed, retail sales are Hormel's largest source of revenue, accounting for 64% of its $12.1 billion in net sales during its fiscal 2023 (which ended in October).
Source Fool.com
