Campbell is sinking after sales fall more than expected

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SymbolPriceChange
CPB58.48-4.07

Campbell Soup Company is down 6.16% at $58.70 a share on Friday morning after reporting quarterly sales and profit that missed analysts' expectations. 

The soup maker saw the biggest sales drop in the fresh food business, which the company rolled out to keep up with demand for healthier foods. 

Here are the key numbers:

  • Profit of $101 million, or 33 cents a share, down from $265 million, or 85 cents, a year earlier
  • Excluding impairment charges related to the Campbell fresh and carrot businesses, earnings rose to 91 cents from 87 cents
  • Revenue dropped 1.4% to $2.17 billion

See Also: United Health sinks after being sued by the US government

Campbell Soup(Markets Insider)

 

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