Monday, November 24, 2008

Campbells Sells More Cans but Projects Slower Sales in '09

Bad news for the American economy usually translates to good news for Campbells soup (NYSE: CPB), because when times are tough, one of the easiest ways to cut personal cost is to trim the fat out of your food bugdet.

You may recall my post about Campbells' solid performance from late July to October. Campbells claims its sales rose 3 percent to $2.25 billion for the quarter, but despite the spike, the popular soupmaker warns that a stronger dollar could slow its growth by as much as 5% in 2009.

Campbells shares fall 7.1%, in this morning's trading.Forbes credited additional factors such as as investors' concerns about international sales growth. Approximately 25.0% to 30.0% of the company's sales stem from international markets. While the stronger dollar may sound "mmm mmm good" to american consumers, it doesn't sound too appetizing to Campbells investors. Today was a pretty rough day for Camden, NJ- (home of Campbells headquarters). The latest list of america's most dangerous cities ranked Camden as No.2 in the U.S.

Posted By Matt O'Hern at 03:38 PM
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