Business

Market Movers

Mmm mm not so good on the profit front

Campbell seeks a new image. It is, for instance, selling soups in plastic pouches. Above, actress Ana Ortiz promoted the brand.
Campbell Soup Co. via AP Images
Campbell seeks a new image. It is, for instance, selling soups in plastic pouches. Above, actress Ana Ortiz promoted the brand.
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The shift toward fresh food is kicking Campbell Soup Co. in the can. Its quarterly profit fell 30 percent to $172 million, hurt by weaker sales, higher marketing costs, and a recall of Plum Organics products. Revenue fell 2 percent to $2.17 billion. The company now expects adjusted earnings for the fiscal year ending Aug. 3 to rise between 2 and 4 percent; prior guidance called for a 3 to 5 percent gain. Revenue is forecast to rise 4 to 5 percent.