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Spam’s global reach helps Hormel overcome price-shocked U.S. shoppers
Hormel Foods is leveraging the global popularity of Spam, particularly in Asia, to offset struggles with price-sensitive U.S. consumers. Despite facing challenges like consumer pullback from Skippy peanut butter and general inflation impacting sales for other food companies, Hormel saw growth in its international profit thanks to Spam. The company is also promoting protein-rich products like Spam musubi and Jennie-O ground turkey to cater to current consumer demands.