Marener
Diamond Member
- Jul 26, 2022
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I already said, the corporate profits of the people who MAKE the food that they sell in the grocery store. You realize there's more people involved in the food supply than the grocery store, right?What corporate profits?! I’ve just told you that the profit margin for grocery stores is 1%.
Stop falling for the liberal lie of blaming the mean businesses. Everything is so against business with you people. Grocery stores are entitled to make 1% profit on their sales. If the DEI pick insists on fixing their prices, there will be a food shortage.
Price controls DO NOT WORK.
The profits of the companies that make food has risen dramatically as a result of the price hikes.
On Tuesday, Conagra Brands—one of the largest consumer packaged goods companies in the U.S.—announced that it had posted a nearly 60% year-over-year profit increase between December 2022 and February 2023. The Chicago-based company, which makes a long list of grocery staples including Chef Boyardee, Hunt’s, Slim Jim, Reddi-wip, and Marie Callender’s frozen meals, reported a net income of $342 million, up from $219 million in the same quarter a year prior.
Conagra attributed the rise in quarterly profits to inflationary price increases, despite facing more impactful supply chain disruptions than anticipated. Sean Connolly, Conagra chief executive, said on the earnings call with shareholders that the company’s sales growth was “primarily driven by inflation justified price increases” and a willingness by consumers to pay the higher prices. Conagra did not respond to a request for comment.
![time.com](https://api.time.com/wp-content/uploads/2023/04/GettyImages-854688294.jpg?quality=85&w=1200&h=628&crop=1)
How Food Company Profits Are Making Groceries More Expensive
Conagra Brands, which makes Slim Jim, Reddi-wip, and Marie Callender's meals, posted a nearly 60% year-over-year profit increase so far this year.