Hormel Posts Higher Earnings as Shoppers Stock Up on Spam Amid High Food Inflation

Hormel Foods, owner of Spam, posted strong earnings amid high demand for its affordable meats like Spam ($3.50 per can)
Hormel CEO Jim Snee optimistic about future sales growth of Spam and "protein portfolio" as inflation drives consumers to affordable options
Food prices rising steadily, prompting suggestions from CEOs to use cheap carbs/cereals to replace costlier meals
Hormel CEO unfazed by popular weight-loss drug Ozempic, says protein still important for balanced diets
Spam demand strong in retail, food service, and exports; Hormel gaining market share across categories