11-23 news: Tyson posts Q4 loss, shows profitability in chicken business
Sales increased from $7.2 billion to $7.21 billion, and chicken sales increased 11 percent to $2.64 billion. For the fiscal year, the company had a loss of $537 million. Annual sales were $26.7 billion, down 1 percent from last year's totals.
Tyson's new chief operating officer, Jim Lochner, said that he expected the improving economy to lead to better demand next year for chicken, beef and pork products, AP reports. He added that the industry overall is improving on falling commodity costs and production cuts, which helps bolster prices.