Campbell’s Loses Favor

Company cuts annual profit forecast as U.S. soup sales weigh on results

Campbell Soup Co. cut its profit forecast for fiscal 2018 after reporting first-quarter results that missed analysts’ estimates. Shares tumbled after the company cited an ongoing dispute with Wal-Mart Stores Inc. and cost inflation as among the reasons for pressure on its gross margins. “This was a difficult quarter, particularly for our U.S. soup business,” Chief Executive Officer Denise Morrison said in a statement.

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