TreeHouse Foods Preliminary Revenue Released
TreeHouse Foods’ (NYSE:THS) preliminary total Q4 revenue grew 5% to approximately $535M vs. $510M in Q4 of 2010. The Q4 retail channel volumes decreased 4%, mainly due to an 8% decline in December volumes, well below historical levels. The company believes the volume decline was driven by three main factors: 1) Reduction in consumer food purchases, 2) Sales shift away from traditional grocery customers toward alternate channel retailers, 3) Negative effect of warm weather in the Midwest and Northeast on seasonal sales.
The shares closed at $56.76, down $6.1, or 9.7%, on the day. Its market capitalization is $2.04 billion.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.