Tyson Foods raises full-year sales outlook after soaring meat prices
Tyson Foods has raised its full-year sales outlook.
Annual sales are now expected to come in between $52-54 billion, which is up compared to the previous $51 billion.
The shift comes as meat prices soar, with each product increasing by at least 10 percent. Many companies, like Tyson, say they have hiked prices to offset rising labor and input costs.
Tyson also announced it received a subpoena from the New York Attorney General’s Office, regarding its price hikes. Tyson is currently evaluating the scope of that action.