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Campbell Soup: cuts annual targets.

(CercleFinance.com) - Campbell Soup has adjusted its targets for 2017-18, now expecting adjusted EPS to fall by -3% to -1% (vs.
a previous estimate of growth of up to +2%), with its adjusted operating profit falling by between -4% and -2% (vs. a previous range of between -1% and +1%).

The group justifies these cuts mainly due to the performance of its gross margin in Q1 and the outlook for the remainder of the year, while it still expects full-year net sales to fall by up to 2%.

Over the first three months of its fiscal year, the soup maker saw its adjusted EPS fall by 8% to 92 cents, with its adjusted operating profit down 14% at 417 million dollars, on net sales that were down 2% at 2.16 billion dollars.

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