Campbell Soup’s third-quarter revenue rose almost 7 percent — its biggest quarterly increase since 2008. But one-time expenses took a bite out of its net income.
The 3.4 percent decline in net income reported Monday by the world’s largest soupmaker represented a reversal of a recent trend in which Campbell managed to increase net income by cutting expenses in quarters when sales have been down or just barely higher.
Chief executive Douglas Conant said Campbell’s sauces, condensed soups and other products used to prepare meals at home are resonating with consumers. He said that even though there are signs that the economy is improving, data shows that shoppers are making fewer trips to grocery stores and are highly price conscious when they’re there.
