By Roshan Fernandez
Campbell's said a recovery in its snacks business is a work in progress.
The food giant said its fiscal second quarter didn't deliver as much improvement in its snacks division as expected, particularly for cookies and crackers. With consumers under pressure, the company tempered its expectations for the second half of its fiscal year.
Goldfish crackers is one product Campbell's is working to expand, and CEO Mick Beekhuizen highlighted limited time versions, such as Harry Potter Butterbeer grahams. Beekhuizen said the profit margin for the snacks sector was down 3.7% year-over-year, and although the company anticipates progress in the second half of the year, it won't achieve previously anticipated margin levels.
Campbell's shares declined about 3.8% after the company cut its guidance and reported sales below analysts' expectations, though adjusted earnings surpassed forecasts.
Write to Roshan Fernandez at roshan.fernandez@wsj.com
(END) Dow Jones Newswires
March 05, 2025 10:44 ET (15:44 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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