Campbell Soup Sales, Profit Slide In 2nd Quarter

Campbell Soup Co. posted $205 million in profit – $0.33 a share – in its fiscal second quarter, ended January 29, 2016. Profit was down 61 percent ($0.85 a share) from the same period last year. Net sales were $2.171 billion, a decline of one percent from the second quarter last year. Operating income during the first six months of fiscal 2017 of Campbell’s Global Biscuits and Snacks business was $247 million, a drop of three percent from the first half of fiscal 2016. Sales were $1.351 billion, up one percent. CEO Denise Morrison, noting her disappointment in second quarter sales, said she was nevertheless encouraged by the performance of several Campbell businesses, including Pepperidge Farm snacks, mainly Goldfish crackers and Milano cookies. But sandwich bread sales, including Pepperidge Farm brands, were down. [ Image credit: © Pepperidge Farm ]