Dole Food 4Q loss blamed on bananas

US fruit and vegetable group, Dole Food, announced a fourth-quarter loss that significantly exceeded Wall Street expectations, the Financial Times reports. The company blamed a low banana prices for the quarterly shortfall together with the weak euro and yen, and higher fuel costs. For the fourth quarter, Dole Food lost $7.4m, or 13 cents per share - below analysts' estimates of a 2 cents loss - compared with earnings of 4 cents for the previous period. Sales for the quarter were approximately flat at $1.06bn. The results is further evidence of the struggling US banana industry. Last week, Chiquita, second behind Dole in bananas, filed a law suit against the European Commission, alleging that its banana regime restricted the company's imports and pushed it to the brink of insolvency.

Dole Food 4Q loss blamed on bananas

US fruit and vegetable group, Dole Food, announced a fourth-quarter loss that significantly exceeded Wall Street expectations, the Financial Times reports....

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