Earnings and Losses

Opportunity Cost Too High At Campbell Soup

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In Brief...

The only segment to see positive sales was baking and snacking, which sells Pepperidge Farm brands in the U.S. and Arnott's biscuits in Australia. The other three business units experienced low single-digit top-line declines, with particular weakness in the U.S. and North American regions on the need for promotional spending to drive sales. U.S. soup sales fell 5%, though beverage sales of V8 brands reported robust 10% growth on double-digit volume increases. International soup sales also suffered while the foodservice segment, which sells products to other food service firms and competes with similar divisions at archrivals Sara Lee (NYSE: The biggest driver of profits is the U.S. soup, sauces and beverage segment.

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