Food Makers Serve Tasty Profits Amid Spate Of Deals
Campbell Soup (CPB), jam and jellies maker J.M. Smucker (SJM) and newly independent Kraft Foods (KRFT) served up tasty profit growth early Friday amid a spate of deals as food companies jockey for position in the highly competitive market. Campbell said fiscal second-quarter earnings per share rose 9.4% to 70 cents, beating Wall Street's target by 4 cents. Revenue climbed 10.4% to $2.33 billion, a bit above the expected $2.32 billion. Sales of
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