Reported 4 months ago
Campbell Soup beat quarterly estimates and raised its annual net sales growth forecast, attributing the success to a recovery in demand for soups and frozen meals. The company's volumes improved this year due to softer price hikes and increased consumer spending. CEO Mark Clouse highlighted gains in the cooking side of the portfolio. Campbell expects a 3% to 4% annual net sales growth, boosted by its recent acquisition of Sovos Brands. Despite lowering its organic net sales forecast, the company remains optimistic about future growth.
Source: YAHOO