Campbell's Earnings Decline Following the Sale of Its European Chip Business
Consumer staples manufacturer Campbell Soup Company (NYSE: CPB) continued its divestment of nonperforming and noncore businesses in the first quarter of its fiscal 2020 year. The consumer packaged goods (CPG) stalwart sold its European chips business to privately held Valeo Foods in October, which reduced current-quarter sales and earnings in the report released Wednesday morning. Outside of this deal, the company presented a mixed quarter to investors, as strength in snacks was offset by weaker sales in Campbell's meals and beverages segment.
As we walk through important details from the last three months, note that all comparative numbers are presented against the prior-year quarter.
Data source: Campbell Soup Company.
Source Fool.com
