Campbell Soup Profit Up
U.S. soup sales rose 6 percent in the quarter, excluding the impact of an extra week in the fiscal year. That follows on a 3 percent drop in U.S. soup sales in the previous quarter.
Overall, profit was $89 million, or 24 cents a share, in the company's fiscal fourth quarter, ended Aug. 3, compared with $61 million or 16 cents a share, a year earlier.
Excluding restructuring items, Campbell earned 26 cents a share. On that basis, analysts forecast 25 cents a share, according to Reuters Estimates.
Sales rose 13 percent to $1.72 billion, though much of the increase was due to the extra week in the quarter and the benefit of the weak dollar, which boosts the dollar-value of sales overseas.
It's kind of sad that the key indicator to out changing world economy is going to be a–now–expensive tin can of tomato soup.
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Philadelphia, Pennsylvania, United States