OMAHA, Nebraska (AP) — Food maker ConAgra Foods Inc. said Tuesday that tight competition, inflation and a sluggish retail environment pushed first quarter net income down 12 percent.
The company reported that it earned $146.4 million, or 33 cents per share, for the quarter. That's down from $165.9 million, or 37 cents per share, in the same quarter last year.
ConAgra says its revenue fell 2 percent to $2.82 billion from $2.89 billion in the quarter last year.
The results missed analyst expectations of 39 cents per share on revenue of $2.96 billion.
In the company's consumer food segment, which accounts for about 65 percent of its revenue, sales fell 2 percent to …
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