Food Makers Serve Tasty Profits Amid Spate Of Deals
Posted on February 15, 2013 at 12:53 PM EST
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