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Campbell Soup cuts sales forecast on divestiture of European chips business

Credit: REUTERS/Brendan McDermid

Campbell Soup Co on Wednesday lowered its net sales forecast for fiscal 2020, taking a hit from the sale of its European chips business earlier this year.

Dec 4 (Reuters) - Campbell Soup Co CPB.N on Wednesday lowered its net sales forecast for fiscal 2020, taking a hit from the sale of its European chips business earlier this year.

The soup maker now expects 2020 net sales in the range of a 1% fall to a 1% gain, compared with its prior forecast of a 1% to 3% rise.

The company said the impact from the divestiture of the chips business would be a fall of 2%.

(Reporting by Nivedita Balu in Bengaluru; Editing by Maju Samuel)

((Nivedita.Balu@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6749 4822/ Twitter: @niveditabalu;))

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