Campbell's Forecasts Weak Fiscal Year Amid Consumer Spending Pressures
Campbell Soup (CPB) has lowered its fiscal 2027 profit and sales forecasts, citing weak consumer demand for pricier snacks. The company also cut its quarterly dividend by over a third as part of cost-saving measures aimed at achieving $500 million in savings by fiscal 2030. CEO Mick Beekhuizen acknowledged the results are 'unacceptable' and emphasized that Campbell's is addressing challenges head-on, including adjusting prices to reflect rising commodity costs. The company reported an 8% drop in fourth-quarter net sales to $2.14 billion, slightly below estimates, with snack volumes down 6%. Analysts noted the aggressive cost-cutting strategy as a positive step despite near-term financial pressures. Shares of Campbell's fell about 7% following the announcement.
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