Packaged food firm Campbell’s reaffirms annual forecast on weak consumer spending - BNN Bloomberg

Packaged foods maker Campbell’s Co stuck to its annual outlook on Monday, months after trimming its forecast, as cautious U.S. consumer spending continued to weigh on demand. Consumer sentiment sank to record lows in recent months as rising gasoline prices linked to the Iran war have squeezed household budgets already strained by stubborn inflation. The pressure is driving lower-income consumers toward cheaper and private-label brands, weighing on demand for companies such as Campbell’s that raised prices to shore up margins and offset rising commodity and tariff costs. Latest updates on co…