Campbells Earnings Hit By Fresh-Food Shift

from Americans’ shift toward fresh foods is kicking Campbell Soup right in the can. The company on Tuesday said its quarterly profit fell 30% as U.S. sales of soups and V8 beverage declined. A recall of its recently acquired Plum Organics products also hurt results and the company cut its outlook for the year. Its shares fell 6% to $39.30 in morning trading. Over the past year, its stock is up more than 13%.

Campbell Soup, based in Camden, N.J., has been trying to reshape its image as a purveyor of shelf-stable canned and other packaged products that are sold in the center aisles of supermarkets. The push comes as people increasingly reach for foods they feel are fresh, migrating toward the perimeters of grocery stores where produce, meats and dairy are sold.

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