The Campbell Soup Company (CPB) reported fiscal first quarter earnings that topped Wall Street estimates, though organic net sales fell 1% from a year ago. The company’s CEO, Mark Clouse, says one of the trends they are starting to see is “some bifurcation in consumer attitudes and behaviors.” “The lower income households are really feeling pressure right now,” Clouse explains, with higher interest rates, reductions in SNAP benefits, and the resumption of student loan payments all being headwinds. However, “more middle-to-upper income households are continuing to be very resilient,” Clause says, adding “a lot of our premium brands are actually doing very, very well.”
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