Campbell Soup Profit Falls 3.4% Amid Charges

Campbell Soup Co.'s fiscal third-quarter earnings fell 3.4% as the company absorbed expenses related to the U.S. health-care overhaul and other items, but sales of its soups rose as the company offered more promotions to draw consumers.

In recent quarters, sales of the company's ready-to-serve soups came under pressure as consumers cut back and reached out for the cheapest items on grocery shelves. To ramp up soup volumes, the company said it would begin offering more promotions, a tactic that many food companies have used in recent months.

Sales of Campbell's V8 beverages and Prego pasta sauces also picked up in the recent quarter.

Read Full Article from Wall Street Journal

- Posted: 2010-05-24 07:48:09

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