ConAgra Adj Profit Meets View, But Sales Miss; To Divest Private Label

Packaged foods company ConAgra Foods, Inc. reported Tuesday a profit for the fourth quarter compared to a loss last year, which was weighed down by hefty impairment charges on its Private Brands business. Lower expenses and sales growth boosted the bottom line. Adjusted earnings per share for the quarter matched analysts’ expectations, while revenues fell short of estimates.