Campbell Soup Raises Its Outlook After Sales Growth Spikes
The Campbell Soup Company (NYSE: CPB) is on a hotter growth trajectory. The soup and packaged food specialist raised its 2020 outlook after announcing sharp sales gains over the last few months
Organic sales gains sped up to 17% compared to a 1% uptick in the prior quarter as consumers stocked up on the company's soup and prepared food products. "We experienced unprecedented broad-based demand across our brands," CEO Mark Clouse said in a press release, "as consumers sought food that delivered comfort, quality and value." Campbell Soup also announced improving profitability, which supported a 57% spike in adjusted earnings per share.
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Source Fool.com
