ConAgra Foods Inc (CAG.N) posted weaker quarterly sales though its profit beat expectations, raising concerns about the strength of its brands as consumers turn more to private-label products.
Shares of the maker of Banquet frozen dinners and Hebrew National hot dogs fell more than 3 percent.
ConAgra, which sold off units like a commodity trading business to focus more on branded consumer foods, saw profit in its consumer foods unit jump 34 percent.But sales in that unit were up only 1 percent.
ConAgra sales fall short, profit tops forecasts
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