Tyson Foods, Inc. (TSN: Quote) Tuesday said it maintains a positive outlook for the fiscal year 2013, despite a challenging second quarter. Second-quarter margins was compressed, as the value of beef has fallen more than the price of cattle.
"Demand is strong, and we're seeing signs of consumers trading from beef to chicken. Also despite increasing prices, chicken is a good value for consumers, and food service continues to promote chicken heavily, " said James Lochner, COO.
Looking ahead, the company expects full-year top-line sales growth in a range of 3 percent to 4 percent, with value-added sales growth in the order of 6 percent to 8 percent. Sales from international production is expected to grow in a range of 12 percent to 16 percent.
by RTT Staff Writer
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