Aryzta N. American food sales fall in Q1
November 30, 2009
by Eric Schroeder
ZURICH, SWITZERLAND — Net revenues in the Food North America division of Aryzta AG fell 2.1% to €133.2 million ($199.9 million) in the first quarter ended Oct. 31, according to a Nov. 30 trading update issued by the Swiss-based owner of La Brea Bakery and Otis Spunkmeyer. Commenting on the Food North America division, Aryzta said the U.S. consumer "continues to conserve their dollar and customers as a result are postponing decision required to stimulate revenue growth." Overall, total Food Group revenues for Aryzta totaled €407.4 million ($611.5 million) in the first quarter, down 8.4% from the same period a year ago. Food EBITA, meanwhile, totaled €51.1 million ($76.7 million), up 2.2% from €50 million in the first quarter of fiscal 2009.