Campbell Soup reported rises in sales for the fourth quarter and for its 2019 fiscal year, an especially good sign since the fourth-quarter results showed increased sales in its core but embattled soup business.
The company experienced an overall sales increase of 2%, to $1.8 billion. That included 3% sales increases in both soup and snacks, including Pepperidge Farm, Goldfish crackers and Kettle Brand potato chips.
Earnings for the year were down 3%, to $979 million. However, the company said in a release that after “excluding items impacting comparability,” adjusted earnings were $1.266 billion, a 1% increase.
Overall sales for fiscal 2019 were up 23% to $8.1 billion, although much of that was driven by the 2017 acquisitions of Snyder’s-Lance snacks and Pacific Foods broths and soups.
The news comes as Campbell is striving to reorient itself following the accession of Mark Clouse, who was named CEO late last year. Campbell has divested its fresh food businesses and some of its international brands, including Arnott’s cookies, which was sold earlier this month for $2.2 billion.
