Camden’s Campbell Soup: Sales, Profits Dip
CAMDEN, N.J. (CBSNewYork/AP) — The Campbell Soup Co.’s fiscal second-quarter income fell 8 percent as soup sales slipped. The company also cut its outlook for the rest of fiscal 2011.
Campbell said it now expects sales to be essentially flat — between a 1 percent decline and 1 percent growth, and earnings per share to fall by 1 to 3 percent.
The second-quarter result matched Wall Street expectations.
The Camden, N.J., maker of soup, Pace and Prego sauces and other foods earned $239 million, or 71 cents per share, for the period ended Jan 30. That’s down from $259 million, or 74 cents per share, a year earlier.
Revenue dropped 1 percent to $2.13 billion.
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