Campbell (CPB) Misses On Q4 Earnings & Sales, Stock Loses 5%
Zacks Investment Research | Aug 30, 2017 09:47PM ET
Campbell Soup Company (NYSE:CPB) posted fourth-quarter fiscal 2017 results, wherein both earnings and sales came below the Zacks Consensus Estimate, with sales marking its third straight miss. Management blamed the murky quarter on a difficult scenario in the packaged food industry, where sales remained soft due to consumers changing food preferences, evolving shopping trends and a tough retail environment.
Nevertheless, the company’s stringent focus on cost-savings initiates fueled year-over-year growth in the bottom line as well as adjusted EBIT. However, the lower-than-expected results and not so encouraging outlook for fiscal 2018 sent shares of the company down by nearly 5% in the pre-market trading session. While Campbell has lost 10.7% in a year, it has fared better than the Zacks Investment Research
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