Wagner’s Meat Beaten
…or can you?
The New Orleans-based meat and provisions purveyor reported earnings of 35 cents per Class A Share on revenue of $2.45 million. That’s well below earnings of last year’s first quarter earnings of $1.17 per share on $5.6 million in revenue.
“Clearly, we can be beaten,” said C.E.O. Richard “Dick” Wagner. “It’s been hard; we’ve been spanked.”
Wagner’s management blamed limp marketing efforts and fresh competition from New York-based Western Beef for the shrinkage of its long-standing marketshare dominance.
“But now we have to come together, erect a new foundation, and milk this business for all it’s worth,” Wagner said.
“A few more thousand bumper stickers won’t cut it. We need to stiffen our resolve and remind our customers why they put our hot, fresh meat in their mouths in the first place.”
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