(Corrects paragraph 4 to show net sales rose 0.4 percent, not 1
May 19 Campbell Soup Co, the world's
largest soup maker, posted weaker-than-expected quarterly sales
as increased promotions failed to drive growth in its U.S. soup
Campbell's shares fell 9.1 percent to $41 in premarket
trading after the company also lowered its full-year sales
The company said it now expects sales from continuing
operations to grow about 3 percent in fiscal 2014 compared with
the previous range of 4-5 percent.
Net sales grew 0.4 percent to $1.97 billion in the third
quarter ended April 27.
Analysts on average were expecting revenue of $2.0 billion,
according to Thomson Reuters I/B/E/S.
(Reporting by Shailaja Sharma and Maria Ajit Thomas in
Bangalore; Editing by Savio D'Souza)