Campbell’s Beats Fiscal Q2 Sales Expectations, Challenges Persist
Incremental sales from CPB’s Pacific Foods acquisition and favorable currency rates supported the company’s top line growth rate. Organic sales fell 2% on a YoY basis, reflecting lower volumes. Campbell’s net sales in the Americas Simple Meals and Beverages segment fell 2%, reflecting continued falls in soup and V8 beverage sales partially offset by benefits from the acquisition of Pacific Foods.