Why Campbell Soup Stock Dropped This Week
Campbell Soup (NYSE: CPB) shareholders had a lukewarm week this week as its stock declined 9% through Thursday trading compared to a 0.3% increase in the S&P 500. That drop contributed to a rough year so far for the stock, which is down 18% in 2023 according to data provided by S&P Global Market Intelligence.
The packaged food specialist's shares were pressured by earnings results that described a weakening sales environment.
Campbell Soup revealed on Wednesday that organic sales were up 5% for the fiscal period that ended in late April. That result marked a sharp slowdown from the prior quarter's 13% increase.
Source Fool.com
