News Brief
Campbell Soup Sales Stay Hot
Jan 26, 2007, 5:00 AM
Campbell Soup is reporting lower first-quarter profits but higher sales led by its ready-to-serve soup line, which was up 15%. The company again said it expects profits for the year will be up between 5 and 7%.
The revival of the iconic condensed soups continued as sales increased 7%. Sales had been eroding until a few years ago; now, Campbell expects that line to grow 3% to 4% per year.
The soup sales may have been boosted by new lower-sodium offerings, but company officials said it was too soon to tell whether customers were just trying them once or would keep eating the healthier versions of the soups.
Sales of cookies and crackers were also up 6%, in part because of the popularity of new 100-calorie packs of Pepperidge Farm Goldfish crackers.
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