Summary
Campbell's Co, a well-known food company, says its sales might fall by up to 2% in the next year due to tariffs, which make goods more expensive. The company is also planning to remove synthetic food dyes from its products by 2026 and sees its profit per share dropping because of higher costs.
Key Facts
- Campbell's expects sales to drop by up to 2% in the next year due to economic uncertainty and higher costs.
- Tariffs are expected to increase costs by about 4% for Campbell's during the 2026 fiscal year.
- The company plans to raise prices and find other ways to save money to handle these cost increases.
- Campbell's profits per share might fall by up to 18%, which is below market estimates.
- Tariffs affect the steel used in cans, with domestic production falling by 75% in the last eight years.
- Campbell's plans to stop using synthetic food dyes by 2026 and will use natural alternatives instead.
- The company's stock rose by 4.6% following the announcement of these changes.
