Dive Brief:
- Campbell Soup Co. disappointed Wall Street with an earnings statement that fell short of expectations.
- The company, which is struggling as Americans lose their taste for canned soups, said its sales rose in the most recent quarter to $1.85 billion. But that was less than what analysts had forecast.
- More ominously, the company said it now expects earnings for fiscal 2015 to run between $2.45 and $2.50 a share — also less than analysts' expectations.
Dive Insight:
Campbell's earnings are even worse than they might appear with quick glance. In the unit includes the company's soup products, sales fell 5% in the quarter, if you exclude the effects of acquisitions and currency adjustments.
On a more positive note, things outside of Campbell's headquarters in the famously troubled city of Camden, NJ, seem to have turned a corner.