Campbell Soup projects higher annual earnings as it cuts costs

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Campbell Soup Co missed Wall Street estimates for quarterly revenue on Wednesday, hurt by declines at its foodservices segment due to the COVID-19 ...

REUTERS: Campbell Soup Co on Wednesday forecast annual earnings growth as its cost-saving measures pay off, while sales are likely to fall as COVID-19 vaccine rollout speeds up and customers return to restaurants.

While Campbell's costs have risen due to pandemic-related and labor expenses, higher raw material costs and increased marketing spend, the company said it was on track to save US$850 million by the end of fiscal 2022.

 

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