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Tyson Foods said persistent inflation weakened consumer appetites for beef, pork and chicken purchases, biting into profits in the company's fiscal second quarter.
Tyson Foods Inc. shares plunged the most since August after the company said persistent inflation has eroded consumers’ appetite for the branded and ready-to-eat offerings accounting for most of the company’s profits.
Tyson shares surge as profit beats on chicken, pork rebound spokesman.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from spokesman.com Daily Mail and Mail on Sunday newspapers.
Tyson Foods pointed to measures it’s taking to increase efficiencies in a challenging meat market as it reported lower sales for fiscal 2023’s fourth quarter and projected flat sales in 2024.