/cloudfront-us-east-2.images.arcpublishing.com/reuters/OWMXYFXYW5NTBCWS6W7RQKLBGY.jpg?fit=%2C&ssl=1 "Campbell Soup lowers annual profit forecast as costs rise")
Cans of Campbell’s Soup are displayed in a supermarket in New York City, US February 15, 2017. REUTERS / Brendan McDermid / File Photo
Campbell Soup Co (CPB.N) on Wednesday slashed its forecast for annual earnings after the company’s quarterly results fell short of estimates, hurt by higher costs related to raw materials and transportation.
The canned soupmaker’s shares fell about 6% to $ 46.30.
Campbell, known for Swanson broth, Prego pasta sauces and Pepperidge Farm cookies, expects higher costs to hurt margins even as it plans price hikes for later this year.
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