The Currency Scene:
News, Events, and Stories about currency from around the world.

(Reuters) - Campbell Soup Co (CPB.N) faces challenges but with its shares the cheapest they have been in years, the stock may be a bargain, Barron’s said in an article on Sunday.

FILE PHOTO: Cans of Campbell's Soup are displayed in a supermarket in New York City, U.S. February 15, 2017. REUTERS/Brendan McDermid

Campbell faces a grocery war. Walmart Inc (WMT.N), Inc (AMZN.O), dollar stores like Dollar General Corp (DG.N) and drugstores like CVS Health Corp (CVS.N) are vying to take share from traditional grocers, according to the article.

A recent squabble with Walmart over soup promotions cut into Campbell’s sales, but Barron’s said the grocery war was also a sales opportunity since Campbell plans to expand distribution through dollar stores and drugstores.

Campbell is expected to grow revenue by a fraction of 1 percent in its fiscal year through July, while increasing earnings per share by 2 percent, Barron’s said.

With shares trading below $42 earlier this month, their lowest since 2014, Barron’s noted, “The discount on shares may be too large to ignore.” Campbell shares closed at $43.61 on Friday.

Reporting by Scott DiSavino; Editing by Cynthia Osterman

Our Standards:The Thomson Reuters Trust Principles.

Read more from our friends at Reuters:

Pin It

The Logo Story

currensceneFLOGO WHTsquareThough not the oldest form of currency, some form of shell money appears to have been found on almost every continent. The shell most widely used worldwide as currency was the shell of Cypraea moneta, the money cowry.

Visit the CurrenScene Media Page