US food-products company Campbell Soup has reported a fall of 5.8% in first-quarter net income.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The company reported net income of US$161m for the quarter ended 27 October, compared with $171m for the same period last year. This year’s results included a goodwill impairment charge of $31m relating to the Stockport soup brand, which Campbell acquired in 1999. Excluding the exceptional item, the company earned $192m in the quarter.
Sales in the first quarter fell by 1.4% to $1.71bn, from $1.73bn a year earlier. Operating earnings fell by 12% to $205m.
