US: Campbell issues warning on 2014/15 fiscal year
Campbell could look to further change portfolio
Campbell Soup Co. today (21 May) warned sales and earnings in its upcoming new financial year would fall below the company's long-term targets.
The US food group has goals for annual organic sales to grow 3-4%, for adjusted EBIT to rise 4-6% and for adjusted earnings per share to climb 5-7%.
However, ahead of an investor meeting today, Campbell said its results for the financial year starting 4 August is "expected to be below these long-term targets".
The owner of brands including its namesake soup and Plum baby food said it expected sales to rise on an organic basis in the new year.
Campbell has seen its growth held back by a challenging US soup category and has sought to boost its top line through acquisitions and disposals in recent years. It indicated it would look again at its portfolio to hit the long-term growth targets.
The group said it "may need to continue reshaping its portfolio to achieve these long-term goals".
The Campbell name remains synonymous with soup in its largest market - North America. The company however has recently undertaken a number of acquisitions as it hopes to move beyond soup into new cate...
Plimsoll’s Organic Food Manufacturers (Global) analysis is the most definitive and accurate study of the Organic Food Manufacturers (Global) sector in 2013. The report is split into two sections and ...
Plimsoll’s Soup Producers (Global) analysis is the most definitive and accurate study of the Soup Producers (Global) sector in 2013. The report is split into two sections and uses both a written and ...
- Focus: Danone CEO Faber puts stamp on business
- Cleaning up Tesco will have mixed supplier impact
- The just-food interview: Doux CEO Arnaud Marion
- Interview part 2: BRF CFO Augusto Ribeiro
- Bitesize interview: Cricketer Farm MD Greg Parsons
- General Mills outlines "aggressive" NPD drive
- Coles supplier payments broke competition law
- Lay's heads "billionaire food brands" list
- Australia consumer watchdog probes raw milk sales
- Wessanen to buy dairy-free drinks firm Abafoods