Revenue from the Jennie-O Turkey Store declined about 2 percent to $384.7 million because of higher feed costs and weaker turkey prices. The weakness of the Jennie-O business was a contributing factor to parent company Hormel Foods' net income dropping 2 percent during the second quarter of the 2013 fiscal year.
Revenue from Jennie-O Turkey Store makes up about 18 percent of Hormel's revenues.
Hormel Foods earned $125.5 million, or 46 cents per share, for the three months ended April 28. That compares with $127.9 million, or 48 cents per share, a year earlier.
Its quarterly performance missed Wall Street's expectations. Analysts predicted earnings of 49 cents per share, according to a FactSet survey.
Also contributing to Hormel's net income decrease was about $9 million in one-time costs related to the company's purchase of Skippy peanut butter. Hormel agreed to buy Skippy in January from Unilever for $700 million.