November 20, 2018 / 12:52 PM / a month ago

Campbell Soup quarterly profit tumbles 29 percent

CHICAGO, Nov 20 (Reuters) - Campbell Soup Co on Tuesday reported a 29-percent decline in quarterly earnings, hurt by higher input and supply chain costs and increased promotional spending.

Net earnings attributable to the company fell to $194 million, or 64 cents per share, in the first quarter ended Oct. 28, from $275 million, or 91 cents per share, a year earlier.

Campbell said net sales jumped about 25 percent to $2.69 billion, boosted by its recent acquisitions of Snyder's-Lance and Pacific Foods. Organic sales fell 3 percent. (Reporting by Richa Naidu Editing by Nick Zieminski)

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