Campbell Soup Shares Drop After Company Cuts Sales Forecast
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The condensed soup aisle is a lonely place these days.
Campbell Soup Co. cut its annual forecast today, saying U.S. shoppers aren’t buying enough soup -- especially the condensed varieties that have long been a staple of American pantries. The company now expects sales to grow about 3 percent, compared with a previous range of as much as 5 percent. The news sent the stock down 2.3 percent.