87.5 F
San Fernando
Wednesday, Nov 29, 2023

Dole Earnings Impacted By European Market

Dole Food Company, Inc. improved slightly in its third quarter earnings, citing a challenging European market as an impact on sales and revenues. The Westlake Village-based company reported revenues of $2.1 billion during the quarter ended October 8, a 5 percent increase from the same period in 2010. The Westlake Village- based company improved its packaged foods divisions, however weak performances in packed vegetables impacted results. In a prepared statement, Dole’s President and CEO, David DeLorenzo, said the company’s packaged salad business continued its improvement through the quarter, however lower iceberg lettuce pricing impacted sales. “Given the positive results of the efficiency and cost measures we took last year, we are implementing additional restructuring initiatives focused on further improving our European profitability in 2012,” De Lorenzo said. Revenues for Dole’s packaged foods division increased 9 percent, primarily due to higher sales in its major product lines. The company attributed a 5 percent increase in its fresh fruit division to an uptick in banana sales volumes in North America and Asia as well as foreign currency exchange movements in Europe and Japan.

Featured Articles

Related Articles