$660 million annual profit for Campbell
Article Abstract:
Campbell Soup Co., the Camden, PA-based food producer, achieved $660 million in net earnings for fiscal 1998. During the same fiscal year, the company spun off Vlasic Foods International, which is anticipated to post sales of $1.5 billion in 1998, and other businesses with $400 million in sales per year. Excluding restructuring charges in connection to divestitures and spinoff, Campbell Soup's earnings from its continuing operations increased 12% for fiscal 1998. For the same fiscal year, sales in the company's flagship US soup business increased 6%, but its biscuit and confectionary business decreased 2% from 1997, posting $1.52 billion in yearly sales.
Comment:
Achieves $660 mil in net earnings for fiscal 1998
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Siting spin-offs, Campbell reports a loss
Article Abstract:
Campbell Soup Co. of Camden, NJ, has recorded a loss of 7% for the year as earnings declined due to restructuring costs to pay for the spin-off of several businesses. The soup maker's net earnings from continuing operations, excluding restructuring charges, grew 12%, as sales rose 1% for the year. Campbell said that sales would have grown by 7%, but was pulled down by currency fluctuations and divestitures. Campbell reported its flagship US soup business increased 6% on a 1% growth in volume for the fiscal year, while worldwide soup sales increased 9%.
Comment:
Records a loss of 7% for the year as earnings declined due to restructuring costs to pay for the spin-off of several businesses
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Moving away from the kitchen
Article Abstract:
Campbell Soup Co. of Camden, NJ, will launch its new Away from Home division that will provide soup for fast-food restaurants as well as school and company cafeterias. The division, which will be headed by Craig W. Rydin, former president of Campbell subsidiary Godiva Worldwide, will incorporate Campbell's food-service operation that generated sales of $455 million in 1997. Rydin reported that the setting up of soup kiosks airports, shopping malls and other high-traffic sites is being considered.
Comment:
Will launch its new Away from Home unit that will provide soup for fast-food restaurants as well as school & company cafeterias
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: As soup sales cool, Campbell tries to revive culinary cachet. Campbell travels to Florida
- Abstracts: Will Congress derail funding for Amtrak? Huizenga throws away keys to used-car business. Taking demographics on the road
- Abstracts: Conrail rolling on to sidetrack Sunoco is moving - just across the street. Founder buys back search company
- Abstracts: HMOs posted losses totaling $768 million last year, study finds. Pa. bypass operations are fewer but better, study finds
- Abstracts: New CEO takes over at SAP America. New Unisys Corp. executive is 'keeper of the reputation.' Electronics firm backs standards for publishing