Campbell Soup lifts annual net sales forecast as demand recovers
) on Wednesday raised its forecast for annual net sales growth, banking on a recovery in demand for its ready-to-eat soups and meals and from its acquisition of Rao's sauce maker Sovos Brands.
The company, which sells ready-to-eat meals and snacks, also benefited from consumers, particularly in the lower-income cohort, looking for more affordable meals at home. It reported organic net sales of $2.2 billion for the quarter. Analysts, on an average, were expecting net sales of $2.36 billion, as per LSEG data.
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