Campbell Soup's Adjusted 3rd-quarter Profit Rises

EMILY FREDRIX

MILWAUKEE (AP) — Campbell Soup Co. said Thursday that its third-quarter profit fell sharply from last year, when it sold its Godiva Chocolatier brand, but its adjusted profit rose 3.6 percent even as its sales slumped.

The Camden, New Jersey-based company said it earned $174 million, or 49 cents per share in the three months that ended May 3, down from $532 million, or $1.40 cents per share a year earlier.

Excluding one-time items such as the sale of Godiva, the largest U.S. soup maker earned $171 million in this year's third quarter, or 48 cents a share, up from $165 million, or 43 cents per share a year ago. ...