Investopedia: TreeHouse Foods - Store Brands At A Premium Price

Sometimes the market falls in love with companies that offer premium-priced goods, and other times the fancies of institutional investors turn toward the world of discount retailers like Wal-mart Stores (NYSE: WMT) and Family Dollar Stores (NYSE:FDO) and the manufacturers or private label products like TreeHouse Foods (NYSE:THS). With high unemployment and nervous consumers dominating the story in retail, bargains are back in vogue. Although TreeHouse is a good company in a market ripe for further consolidation, investors should hold back and wait for a sale on these shares.

A Quality Problem For Q3  
Although TreeHouse met its numbers for the third quarter, how the company did so is an issue. Revenue rose about 14% from last year, but growth was boosted in a big way by acquisitions. The company's largest segment, North American retail grocery, saw almost 16% growth on a reported basis, but just 5% growth ex-acquisitions, and unit volume growth was just 1%.

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