Campbell Soup Company (CPB) reported fourth-quarter profit that topped Wall Street estimates. Organic net sales declined 4% year-on-year, driven by a 5% decrease in volume and mix primarily as a result of cycling both the elevated demand in food purchases for at-home consumption and the partial retailer inventory recovery in the prior year. Looking forward, Campbell Soup issued fiscal 2022 guidance, and said it expects the first quarter to be the most challenging. Also, the Board of Directors approved a $500 million strategic share repurchase program.
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