Hormel Foods Corporation reported third quarter 2011 net earnings of $98.5 million, up 15% from 2010's net earnings of $85.4 million.

The Jennie-O Turkey Store had a solid quarter, according to the company, with segment operating profit up 14% from 2010 numbers to $34.9 million. Increased value-added sales and improved efficiencies contributed to the good results, and net sales for the quarter rose 11%. Hormel's grocery products also saw growth, with an operating profit up 19% from 2010 to $30.4 million.

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Hormel's net earnings for the nine months ended July 31, 2011, were $356.9 million, up 24% from the adjusted net earnings of $287.8 million the same period in 2010.