Campbell Soup Co. affirmed its outlook for fiscal 2017, which ends July 30, for adjusted earnings-per-share of $3.04 to $3.09, which surround the FactSet consensus of $3.05. The soup and simple meals company said it still expects sales to be down 1% to flat from a year ago, while the FactSet consensus of $7.92 billion implies a 0.5% decline. The company, which is hosting its investor day Tuesday, said it expects to reach $310 million in annual cost savings by the end of the current fiscal year, and continues to expect to cut costs by $450 million a year by the end of fiscal 2020. The stock, which was still inactive in premarket trade, has tumbled 16% year to date, while the S&P 500 has gained 9.9%.
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