Dallas, Texas 11/20/2013 (Financialstrend) – Americans’ are slowly but surely transitioning to fresh foods which is affecting Campbell Soup Company (NYSE:CPB)’s business in a very bad way . On Tuesday, it said that its quarterly-profit dropped 30% as the United States sales of soups & V8-beverage dipped. A recall of the company’s recently-acquired Plum Organics products also affected the company’s results it axed its 2013 full-year outlook.
The Camden, N.J- based Campbell Soup Company (NYSE:CPB) has been making every effort to reshape its image as a supplier of shelf-stable canned & various other packaged-products that are sold in center-aisles in supermarkets. This push comes in the wake of the trend where people are increasingly reaching for foods that they feel are fresher. They are shifting to grocery stores where meats, produce and dairy are sold.
In Tuesday’s trading session, Campbell Soup Company (NYSE:CPB) dropped by 6.24%. The shares opened at a price of $39.70, which touched the intraday high of $39.80 and headed to a close of $39.20. Approximately 7.04M shares were traded on Tuesday and an average volume of 1.42 million shares were traded over a 30 day period. The 52-week low of Campbell Soup Company (NYSE:CPB) shares is $34.30 and its 52-week high is $48.83. The company has a market capitalization of $12.29 billion.
About the company
Campbell Soup Company (NYSE:CPB) along with its subsidiaries, is a manufacturer & marketer of branded -convenience food products. It operates in 5 segments: 1- U.S. 2- Simple Meals; 3- Global Baking and Snacking; 4- International Simple Meals and Beverages; U.S. Beverages; and 5- North America Foodservice. In 2012 June Campbell Soup Company (NYSE:CPB) bought 1300 Admiral Wilson-Boulevard in Camden. On 2012 August it completed acquiring BF Bolthouse Holdco LLC. In 2012 September Vilmorin & Cie SA bought the tomato & pepper breeding & sales business of that Company. In 2013 June, Campbell Soup Company (NYSE:CPB) completed the Plum Organics acquisition.