Petco (WOOF) shares closed nearly 29% lower after reporting third-quarter results that missed Wall Street expectations. The company says it is "taking swift and decisive action" in a bid to turn things around. Hormel Foods (HRL) shares fell nearly 5%. The company's fourth-quarter results fell short of estimates, citing "slowing consumer demand, inflationary pressures," and headwinds in its turkey business. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Q4 2023 Hormel Foods Corp Earnings Call
Hormel Foods' (HRL) fourth-quarter fiscal 2023 results reflect soft sales in the Retail and International segments, whereas Foodservice remains strong. The company is on track with its six strategic priorities.