November recall drags down Fresh Del Monte Produce sales
Fresh-cut vegetables were voluntarily recalled last year
Fresh Del Monte Produce reported a loss in the fourth quarter primarily due to a November vegetable recall.
The supplier of fresh and prepared produce reported a loss of $25.8 million, or 54 cents a share, compared with a loss of $34.0 million, or 70 cents a share a year earlier.
Adjusted loss per share was 45 cents.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| FDP | FRESH DEL MONTE | 34.92 | +1.17 | +3.47% |
Total revenue for the company was $1.03 billion, compared with $1.05 billion a year earlier.
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The decrease in sales was attributed to lower sales volume of its fresh-cut vegetables product due to a voluntary recall in November 2019.