Boo Hoo. Menu Foods Loses Money.
Poor Menu Foods. They lost money last quarter.
Menu Foods Income Fund, the Canadian owner of a company that recalled more than 60 million cans of pet food, reported a second-quarter net loss as sales plunged 44 percent after customers canceled orders.
The net loss was C$3.6 million ($3.4 million), or 19 cents a unit, compared with profit of C$1.97 million, or 11 cents, a year earlier, the company said today in a statement. Sales fell to C$47.2 million. Since the March 16 recall, customers accounting for at least 16 percent of revenue stopped using Menu Foods Ltd.
The company, North America’s biggest maker of store-brand pet food, recalled the products after some cats and dogs that ate them became sick with kidney failure and later died. Most of the C$45 million in recall costs have been included in the last two quarterly results, Menu Foods said.
‘Some’ cats and dogs? Some? 44 percent of their customers canceled orders, and customers which generated 16% of their revenue stopped using them as a supplier. I am shocked the numbers are so low. Aren’t you?
Oh, it’s been 147 days since the recall was announced (to the Menu Foods Income Group, not the public), let’s hope they have put measures in place to make sure this never happens again.
2 Comments so far
hi
i have you linked on my website :mrgreen: do you want to see Just How Pissed i am at menu Foods???look at my case that im a member of at the link below and look at Amount Demanded just to give you and idear how pissed i am….. :mad:
[...] Menu Foods is crying because they lost money. Boo Hoo! [...]