The Clap
Campbell Soup (NYSE: CPB) cut its full-year forecast as supply chain troubles and inflation push consumers away.
The Deets
Campbell reported earnings in line with analysts’ estimates, but the warning regarding the effect of price increases on consumers pushed the stock price down.
Inflation is driving consumers to look for more affordable alternatives for goods and commodities.
So What
Campbell is now one of a number of businesses that have reported a change in consumer buying habits.
What Now
Campbell increased its products’ promotions to better compete with cheaper alternatives.
