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Published on 3/06/2020 5:06:01 PM | Source: Reuter

Campbell Soup raises 2020 forecasts as more consumers stockpile

Posted in Top Stories| #World Market #COVID-19

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Goldfish crackers maker Campbell Soup Co raised its fiscal 2020 adjusted profit and net sales forecast on Wednesday, as demand for its soups, biscuits and snacks surged amid stay-at-home orders to curb the spread of COVID-19.

The Prego pasta sauce maker now expects fiscal 2020 adjusted earnings per share to be between $2.87 and $2.92 from a prior range of $2.55 to $2.60.

The company also forecast fiscal 2020 net sales growth to be between 5.5% and 6.5% from its previous outlook of a decline of 1% to a growth of 1%.

(Reporting by Praveen Paramasivam and Martinne Geller; editing by Uttaresh.V)