Because of weaker-than-expected sales in the first nine months of its fiscal year, Campbell Soup Co. reduced its outlook for full-year revenue growth Monday.
The Camden company, whose brands include Chunky soups and Pepperidge Farm breads, said it now expects revenue from continuing operations to increase 3 percent, down from the previous range of 4 percent to 5 percent.
Campbell's revenues for the three months ended April 27 were $1.97 billion, up slightly from $1.96 billion in the comparable period a year ago. Net income was $184 million, up 1.7 percent from $181 million the year before.
The most recent quarter included an $18 million pre-tax charge for lump-sum pension distribution related to the closure of Campbell's Sacramento, Calif., factory.