Tyson Foods Inc. reported a jump in sales after sharply raising prices for its beef, chicken and pork, citing growing costs the company said were likely to persist.
The Arkansas-based meat giant lifted prices across all of its major divisions as executives said Tyson’s cost of cattle jumped by one-fifth year over year in the quarter ended Oct. 2. Tyson’s logistics expenses climbed about 30%, they said, while the company also has paid more for ingredients and packaging materials.