Three lackluster brands are dragging down ConAgra Foods’ sales: Healthy Choice, Orville Redenbacher’s, and Chef Boyardee. In the quarter ended May 25, volume sales of these consumer foods fell 7 percent. Over the last 12 months they were down 3.1 percent.
The three brands haven’t kept up with changing tastes. Consumers want to eat healthier, but they don’t want frozen healthy meals (frozen foods in general have been suffering); they’re guzzling beer-margaritas from a can (à la Bud Light Lime Straw-Ber-Rita) but eating less canned spaghetti—and other canned foods; and popcorn sales have been strong, but not for Orville Redenbacher’s.