$TSN Reports a 43% Drop in Profits as Consumers Trade Down, Sales Up 2%

“May 6 (Reuters) – Tyson Foods Inc, the largest U.S. meat processor, reported a 43 percent fall in quarterly profit as shoppers and restaurants switched to cheaper chicken from beef to save money.

“Our beef segment suffered margin compression as consumers opted for the relative value of chicken,” Chief Executive Donnie Smith said in a statement on Monday….”

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