ConAgra Foods Sales Fall 2%

Features Reuters

ConAgra Foods Inc reported a 2 percent fall in quarterly net sales, due to weak demand for branded foods such as Hunt's ketchup and Bertolli pastas and frozen meals.

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Net income attributable to the company fell to $10 million, or 2 cents per share in the second quarter ended Nov. 23, from $248.7 million, or 58 cents per share, a year earlier.

The company took a $247 million charge in its private brands business related to goodwill impairment and other intangible assets.

Net sales for the company, whose brands include Chef Boyardee and Healthy Choice, fell to $4.15 billion from $4.22 billion a year earlier. (Reporting by Sruthi Ramakrishnan in Bengaluru and Anjali Athavaley in New York; Editing by Siddharth Cavale)