Meat + Poultry - May 2004 - 14

Pilgrim's Pride introduces new
turkey products

Albertsons introduces branded
beef program

Pilgrim's Pride Corp., Pittsburg, Texas, has introduced a new line
of turkey products that are marinated with real butter. Pilgrim's Pride
Real Butter Basted products are easier to cook because the basting
is in the product, said Dan Emery, vice president of marketing.
"The development of these products was heavily researched,
and we believe these products are more moist, tender and flavorful
than turkeys marinated with artificial ingredients," said Emery. Research shows the average consumer is concerned about the taste,
tenderness and moistness of turkey, especially when cooking for
larger groups. "More than 80 percent of our testers rated it an 'excellent' or 'very good' value for the money," Emery said.
This extension of Pilgrim's Pride turkey products, called Pilgrim's
Pride Signature line, is the company's premium offering of turkeys.

Albertsons, Boise, Idaho, introduced Steakhouse Choice Beef this
past month in its stores nationwide. "We are working hard to make
our customers' lives easier and when customers told us they want a
choice to purchase the highest quality beef products, we decided to
offer them just that," says Clement Stevens, group vice president of
fresh foods merchandising for Albertsons.
The retailer is guaranteeing the new beef brand. If it does not meet
a customer's satisfaction, the retailer will refund the money and the
cut of beef.
Stevens said the Steakhouse Choice introduction into the market
is the latest step in Albertsons' program to provide the best value to
its customers. Recently, the retailer introduced its Essensia line of
private label foods and its Blue Ribbon Beef selection.

Who do Americans trust?

Pilgrim's Pride reports record
second quarter

According to a recent survey, the American public has deep
trust and confidence in school teachers, veterinarians, physicians and farmers and ranchers. In contrast, the public indicates
distrust for politicians and well-known Hollywood actors or actresses, especially when they attack animal agriculture. These
findings were the result of a national consumer opinion survey
conducted by Market Directions, Inc., Kansas City, Mo., and jointly underwritten by the Animal Agriculture Alliance and National
Corn Growers Association.
"The results of the survey are positive and don't surprise anyone who appreciates the contributions that animal agriculture
makes to our quality of life," says Bruce Andrews, president of
A.A.A. "Our polls show the public has consistently trusted American farmers and ranchers. More than 40 percent of respondents
over the age of 25 considered farmers and ranchers to be one of
their two most favorably viewed groups. At the same time, animal
rights activists show themselves to be consistently out of touch
with the public at large."
Eighty-six percent of respondents think consumers should have
the right to choose what they eat and not be dictated to by a small
minority of activists, according to the poll, which was conducted this
past February and released in April. The poll is the fifth conducted
by A.A.A. to track public attitudes about farmers and ranchers, as
well as trends in philosophies, issues and buying habits.
Tracking those whom the public trusts when it comes to messages about farm animal well-being revealed farm animal veterinarians, U.S. Dept. of Agriculture representatives, Food and Drug
Administration representatives and farmers and ranchers among
the most believable.
When it comes to food safety and quality, the public considers
family physicians, dietitians, F.D.A. and U.S.D.A. to be the most
credible sources of information. Again, they considered politicians and well-known Hollywood actors to be among the least
credible sources about food quality and safety.

Pilgrim's Pride Corp., Pittsburg, Texas, reported net income of
$33 million for the second fiscal quarter ended April 3, 2004, an increase of $22.2 million compared with net income of $10.8 million
in the second quarter of fiscal 2003. The company also reported
net sales for the second quarter of $1,384.9 million, an increase
of $754.3 million, compared with net sales of $630.6 million for the
same period this past year, with the increase resulting primarily
from the acquisition of ConAgra's chicken division, which was effective Nov. 23, 2003.
For the six months ended April 3, Pilgrim's Pride reported net income of $43.2 million, an increase of $29.7 million compared with
net income of $13.5 million for the six months ended March 29, 2003.
The company also reported net sales for the first six months of fiscal
2004 of $2,429.3 million, an increase of $1,171.3 million, compared
with net sales of $1,258 million for the same period this past year.
"Our quarterly and first six months performance reflects the continued improvement in the U.S. pricing environment for chicken, and
our success in achieving synergies through our integration of the
ConAgra chicken division," said O.B. Goolsby, president and chief
operating officer of Pilgrim's Pride. "Our expanded and enhanced
prepared foods product mix, improved distribution capabilities and
enhanced operational and customer service capabilities have positioned us to better capitalize on favorable industry trends, and we
expect these factors to be increasingly important revenue drivers for
the company going forward."
Goolsby also announced the company will be restructuring its turkey division to focus on value-added production. Once the restructuring plan is completed in October, company executives believe the
division will produce two-thirds value-added products and one-third
commodity-oriented products.
As part of its restructuring effort, the company announced it intends to sell or close its Hinton, Va., turkey plant. The facility currently employs approximately 1,300 employees and processes approximately 160,000 turkeys per week.

14

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