Net sales for Q4 totaled $3bn compared to $3.1bn last year, and full year sales dropped from $12.5bn in 2008 to $11.2bn last year.
Gregg Engles, chairman and CEO, said: “While our 2009 results demonstrate a strong step forward for the business, our fourth quarter performance was below our expectations. As the year came to a close, several of our businesses fell short of expectations.”
At Fresh Dairy Direct, for example, Engles said retailer and competitive pressure intensified towards the end of year. Added to this, the company head said the division faced “sharply rising commodities.”
