Why Shares of Campbell Soup Are Down Today
Shares of Campbell Soup Company (NYSE: CPB) fell on Thursday following a disappointing fiscal fourth-quarter report. Campbell Soup missed analyst expectations for both revenue and earnings, producing a revenue decline driven by shifting demographics, changing consumer preferences, new shopping behaviors, and a difficult retail environment. As of 11:52 a.m. EDT, the stock was down 6.6%.
Campbell Soup reported fourth-quarter revenue of $1.66 billion, down 1.4% year over year and $30 million below the average analyst estimate. Organic sales were flat adjusted for currency in both the global biscuits and snacks segment and the Campbell fresh segment, while sales slumped 3% year over year in the Americas simple meals and beverages segment.
Image source: Campbell Soup.
Source: Fool.com
Campbell Soup Co. Aktie
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