B&G (NYSE:BGS) Foods is a seller and distributor of a wide array of shelf-stable food and household products. The company continues to see challenges in its business as operating earnings continue to drop due to a challenging economy, with consumers apparently becoming more frugal with grocery purchases. This has been an industry-wide downturn which has dragged on earnings for not only B&G, but also many other players, for the past two years.
This quarter's results, unfortunately, told more of the same. Operating income declined another 1.9% year on year. Base products saw a decrease of $3.5 million from the same quarterly period last year. Perhaps most surprising to management was the 5% decline in sales of "Tier 1"...
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