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Tue November 19, 2013
Campbell reports slow first-quarter earnings
The Campbell Soup Company released its FY 2014 first-quarter earnings Nov. 19, with total sales down two percent. The company attributed the slow numbers to weaknesses in overall industry trends, among other factors.
Campbell operates a production facility in Paris, which recently added a $48-million production line, a 76,000-square foot addition to the existing facility. The new production line in Paris makes ready-to-eat soups that come in packages rather than cans. The Paris facility also makes Campbell’s condensed soups, Prego Italian sauces, Pace Mexican sauces and V8 juices.
Campbell stocks dropped after the news release detailing the soft quarter. Campbell stocks opened the week of Nov. 18-22 at about $42 and were trading at just over $39 on the afternoon of Nov. 19.
Over the last fiscal year, Campbell purchased Bolthouse Farms, Plum Organics and Kelsen Group, a Danish snack food company. More recently, Campbell has announced a marketing partnership with Green Mountain Coffee Roasters.
The company said it expects numbers to rebound in the second quarter with an increase in sales from the holiday season and winter months.