Campbell: stock up as annual forecasts increased
(CercleFinance.com) - Campbell Soup shares are up over 4% on the New York Stock Exchange this Wednesday after it reported "solid" quarterly results, while raising its full-year targets.
This morning the US food group announced Q1 sales of 2.6 billion dollars, to end-October, up 15% in both organic and as reported.
The soup manufacturer says that it benefited from price increases and productivity measures designed to offset strong inflationary pressures.
Regarding its outlook, Campbell now expects FY organic growth of 7% to 9%, above a previous forecast range of 4% to 6%.
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