Tasty Baking in Downward Spiral
US baking firm, Tasty Baking, has reported huge losses for the first quarter of 2010.
Losses for the first quarter period ending March 27 were at $3,920,000 with sales dropping 6 per cent.
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This is compared to a $70,000 drop for the same period in the previous year.
Bad winter weather, a fire at the company’s Hunting Park baking plant, relocation costs and a decline in demand for snack cakes were all stated as contributing factors to the loss.
However Tasty Baking said they were ‘confident in their ability to navigate the many challenges’.