Sales of Hormel products — including Skippy peanut butter and Spam — to groceries skyrocketed, thanks to food stockpiling and the quarantine diet.
Why it matters: Some companies are seeing business collapse as Americans lock down, while others are getting a lift as people shelter in place.
The big picture: Bigger parts of Hormel’s business are being slammed. Demand for its food-service business, where it distributes products to restaurants, hotels and school cafeterias, has plummeted.