By Jesse Newman
Pantry staples are in line for a hit from President Trump's tariffs.
Soup and snack giant Campbell's said that it is navigating tariffs on three fronts: retaliatory tariffs on soup it ships to Canada, taxes on imported steel and aluminum tied to its soup and beverage cans, and imports from Italy affecting its Rao's pasta sauce.
Campbell's said that it's taking a variety of steps to minimize the impact of tariffs, including working with suppliers and looking for alternative sources. Where "absolutely necessary," Campbell's Chief Financial Officer Carrie Anderson said the company would consider raising prices.
"We're going to look at all of the levers that we have," Anderson told investors Monday.
Campbell's said the direct impact of tariffs wasn't material last quarter. Assuming current levies remain in place, however, the company estimated that it could see an incremental knock to adjusted earnings of between 3 to 5 cents a share for its fiscal year.
Campbell's: Americans Haven't Cooked at Home This Much Since the Pandemic
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(END) Dow Jones Newswires
June 02, 2025 11:44 ET (15:44 GMT)
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