Wide-moat Campbell snacks on Snyder's-Lance as it accelerates its portfolio shift beyond soup.
Campbell Soup continues to be plagued by languishing sales and eroding profits. In its second quarter, organic sales slipped 2% (entirely due to lower volumes) and higher commodity costs (to the tune of 330 basis points) offset the savings from productivity initiatives (which aided profits by 130 basis points), contributing to a 220-basis-point degradation in adjusted gross margins to 35.2% and an 80-basis-point decline in adjusted operating margins to 18.4%. However, this performance generally ...Campbell Soup is a manufacturer and marketer of food and beverage products. The company's reportable segments are: Meals and Beverages, which includes the retail and foodservice businesses in the United States and Canada, and the meals and shelf-stable beverages business in Latin America; Snacks, which consists of Pepperidge Farm cookies, crackers, fresh bakery and frozen products in United States retail, including Milano cookies and Goldfish crackers, and Snyder's of Hanover pretzels, Lance sandwich crackers, Cape Cod and Kettle Brand potato chips, Late July snacks, Snack Factory Pretzel Crisps, Pop Secret popcorn, Emerald nuts, and other snacking products in the United States and Canada.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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