ConAgra loses $1.2 billion in its first quarter
ConAgra Foods Inc. lost $1.2 billion in its first fiscal quarter, which ended Aug. 30, the company reported. A drop in the value of the company’s private-label business was partly to blame, The New York Times reported. That business, which makes packaged foods that are then sold by grocery stores under their own names, is for sale, and the company expects to have more news about the move this fall. ConAgra reported a loss of $1.2 billion, or $2.88 a share, in the quarter, compared with profits of $482.3 million, or $1.14 a share, in the period last year.
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