Land O'Lakes earnings down 29%, but sales up - Bring Me The News

Land O'Lakes earnings down 29%, but sales up

Dairy cooperative Land O'Lakes said its second-quarter earnings fell 29 percent, due to softness in its flagship dairy foods business, though sales continued to grow.
Author:
Publish date:

Dairy cooperative Land O'Lakes said its second-quarter earnings fell 29 percent, due to softness in its flagship dairy foods business, though sales continued to grow.

Next Up

Related

Land O'Lakes profits rebound in 3Q

Land O'Lakes Inc. posted net income of $18 million in the third-quarter, compared to a $30 million loss a year earlier, the Star Tribune reports. The Arden Hills-based co-op also reported a seven percent increase in sales.

Best Buy second-quarter earnings plunge 90 percent

Richfield-based Best Buy says its second-quarter net income fell 90 percent as the big-box electronics chain logged restructuring charges and saw sales continue to decline. Best Buy also withdrew its earnings view for the year. The company says it earned $12 million, or 4 cents per share, in the quarter ended Aug. 4 -- compared with $128 million, or 34 cents per share.

Land O'Lakes accounting clerk charged with mail fraud for embezzling $1.1M

Federal prosecutors accuse a Brooklyn Park woman of stealing more than $1 million from Land O'Lakes between 2008 and 2012. Federal prosecutors say Cynthia Jacobsen, 58, fraudulently authorized payments to her daughter and allegedly used the money for personal expenses. Jacobsen worked as an accounts-payable supervisor.