Campbell Soup cuts fiscal 2010 sales outlook; will improve its condensed soups

Campbell Soup lower fiscal 2010 sales guidance

CAMDEN, N.J. — Campbell Soup lowered its fiscal 2010 sales forecast and says it will improve some of its soups by cutting sodium further and changing their packaging.

The company now anticipates full-year sales will rise 2.5 percent to 3.5 percent, down from its prior outlook for a 4 percent to 5 percent increase.

Based on 2009 revenue of $7.6 billion, this implies sales of about $7.79 billion to $7.87 billion. Analysts expect 2010 revenue of $7.87 billion.

Campbell Soup Co. says it will tweak more than 60 percent of its condensed soups, reducing sodium in 23 of them by up to 45 percent. It will also change the cans’ labeling by using new photographs to play up the soups’ appearance.