Campbell Soup reports profit drop

Manufacturing News, Source : TheManufacturer.com
Published : 13 Sep 2004 15:50

Soup maker Campbell Soup Co. reported that net profit fell 20 percent to $59 million in its latest quarter, down from $74 million one year earlier.

Sales fell two percent to $1.43 billion during the quarter.

The company’s spending on marketing promotions, which are subtracted from sales under accounting rules, decreased sales by two percent. The company also took a charge related to recent job cuts.

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