NEW YORK
The advantage is better than expected, mainly due to lower spending on ads and fewer shares outstanding. But revenue missed expectations volume declined due to higher prices. The company, like other food makers, has raised prices to offset higher costs for materials and other materials.
(James H. Collins, File/Associated Press) Photo files, August 31, 2011 show cans of Campbell's Tomato soup was opened in New York. Campbell Soup Co. said Tuesday, November 22, 2011, fiscal first quarter revenue fell 5 percent because of the price increase is not enough to offset the lower volumes in the soup and drink business
Camden, NJ-based company, is seeking to regain lost ground after several years of declining sales of soups. U.S. soup sales fall 4 percent during the quarter as higher prices hurt volume. Buyers have been holding their consumption of soup, stopped stocking food pantries or shifted to competitors