USA: Campbell reports consumer purchases of U.S. soup increased 5 percent for second quarter; earnings per share at $.65
Campbell Soup Company (NYSE: CPB) today reported diluted earnings per share of $.65 for the second quarter ended January 28, 2001, even with the same period last year. Net sales in the quarter increased 2 percent to $2 billion, a 5 percent increase before the impact of currency and divestitures. This performance was largely driven by significant improvement in the U.S. soup business, which resulted from increased marketing investments, including the "M'm! M'm! Good!" advertising campaign, and more seasonable winter weather. For the quarter, U.S. soup consumer purchases increased 5 percent. For the first six months of the fiscal year, U.S. soup consumer purchases increased 4 percent. As expected, net earnings for the quarter declined 4 percent to $271 million compared to $281 million a year earlier due to continued increases in marketing investment.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- General Mills sales woes continue - analysis
- Comment: Meal kits in US - don't believe the hype
- Why personalisation will take-off in US food
- US food next wave on display at Winter Fancy Food
- Analysis: Chocolate sector's deforestation pledge
- Kraft Heinz cuts jobs in US, Canada
- Fonterra cuts earnings forecast
- Unilever invests in Dutch meat substitute project
- Lactalis fails to hit threshold to delist Parmalat
- Immigration crackdown "risk" for US dairy industry