CAMDEN, N.J. (
has slashed its sales growth guidance for fiscal 2010 to 2.5% to 3.5% from a previously expected range of 4% to 5%.
Campbell, the soup maker, kept intact its prior guidance of adjusted per-share earnings growth of 6% to 7% from the 2009 adjusted base of $2.21 a share.
Campbell also announced a plan to increase the performance of its condensed soups in the U.S. The company said it plans to "enhance more than 60% of its condensed line with product improvements, further sodium reduction, more contemporary packaging, improved shelving systems and new marketing aimed at the simple meals category."
Campbell said it would reduce the sodium content in 23 of its condensed soups by up to 45% and update the labels on its soups.
Campbell said its new soups will be available for sale in August.
-- Reported by Joseph Woelfel in New York.
Follow TheStreet.com on
and become a fan on