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Campbell Soup is struggling to persuade shoppers to buy fresh food — and soup

Shares of Campbell Soup Co. slid more than 12% Friday to their lowest level since January of 2013, after the company announced the immediate departure of chief executive Denise Morrison and said it would conduct a full review of its entire portfolio amid struggles with fresh food and soup. “We will undertake a thorough and critical review of all aspects of our strategic and operating plans including the composition of our entire portfolio,” interim CEO Keith McLoughlin told analysts on the company’s earnings call, according to a FactSet transcript. The company(CPB)posted a net loss of $393 million, or $1.31 per share, for its fiscal third quarter, after income of $176 million, or 58 cents per share, in the same period last year.