News Summary: Campbell's profit slip 5 percent

AP News
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Posted: May 21, 2012 11:08 AM
News Summary: Campbell's profit slip 5 percent

THE NUMBERS: Campbell Soup Co. said its fiscal third-quarter profit fell 5 percent from last year's quarter to $177 million, or 55 cents per share.

THE REASONS: The company, based in Camden, N.J., said revenue was up slightly. But the company also had higher costs for ingredients and spent more on marketing.

THE BIG PICTURE: Campbell is pushing to revamp its flagging U.S. soup business by stepping up marketing efforts and introducing new products, many of which are scheduled to come out early in its next fiscal year.