Campbell Soup Company (NYSE:CPB) announced a Q2 4% increase in net sales and boldly upped its guidance. Douglas R. Conant, Campbell's President and Chief Executive Officer, offered these contradictory comments within the same paragraph of the company's press release.
For the first half, our U.S. soup business delivered strong results with solid sales growth and enhanced profitability.
Despite a modest decline in U.S. soup sales during the second quarter, we are very satisfied with the performance of this business.
The U.S. soup business is still the keystone to Campbell Soup and in Q2, the numbers retreated. If they cannot make these numbers march forward, investors will be looking at disappointing results.
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