Campbell's profit beats; later holiday lifts soup

Published on NewsOK Modified: February 14, 2014 at 2:18 pm •  Published: February 14, 2014

CAMDEN, N.J. (AP) — Campbell Soup reported that its fiscal second-quarter profit and revenue came in above Wall Street expectations Friday, helped by the later Thanksgiving.

The company said sales for its U.S. Simple Meals division rose 7 percent, lifted by higher volumes and prices and the acquisition of Plum Organics. U.S. soup sales rose 5 percent, in part because a later Thanksgiving pushed shipments to retailers back into the quarter. For the first half of the year, soup sales are still down 1 percent.

Campbell Soup Co., based in Camden, N.J., is working to find ways to boost sales of its canned soups. The company is contending with the wide availability of fresh soup in the hot food bars of supermarkets. It's also trying to update the image of its soups, and has introduced new packaging and flavors designed to appeal to a younger crowd.

During the quarter, sales for Campbell's global snacks division, which includes Pepperidge Farm, rose 14 percent. The increase was boosted by the acquisition of Kelsen Group, maker of Danish butter cookies.

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