The past fiscal year was one of solid achievement and progress and represented another advance in Hormel Foods Corporation's long progression of growth. The company introduced extensions of existing successful product lines in categories where it possesses unique strengths and developed new meat and food items for market niches that offer promising opportunities. This ongoing product development effort reflected a commitment to meeting the changing tastes and desires of today's consumer for products offering a richer, more full-bodied flavor and convenient, easy-to-prepare benefits that fit today's busy lifestyles. Many established brands and new products enjoyed strong consumer loyalty as evidenced by new highs in volume or market share.