Campbell Soup sees 2015 performance below long-term targets

|About: Campbell Soup Company (CPB)|By:, SA News Editor

Campbell Soup (NYSE:CPB) says it expects its 2015 performance to come in below its long-term targets for EPS growth of 4%-6% and sales growth of 3%-4%, although sales are expected to improve in its fiscal year that begins Aug. 4.

CPB reaffirms FY 2014 guidance, expecting growth of ~3% in net sales, which equates to ~$8.29B and in-line with analyst consensus; sees EPS growing at the low end of $2.53-$2.58 guidance vs. $2.53 consensus.

CPB plans to provide specific FY 2015 guidance when it reports Q4 results on Sept. 8.

CPB also anticipates resuming share repurchases in the new fiscal year.