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Campbell soup sales slowing

The maker of soups, sauces and snacks said fiscal Q1 earnings and sales fell, and it cut its guidance due to slow soup and beverage sales. Campbell Soup's (CPB) Q1 revenue fell 7% to $2.17 bil, missing estimates for $2.29 bil. EPS dipped to 63 cents per share from 88 cents a year ago, badly missing estimates for 86 cents. Campbell said soup sales fell 6% as retailers reduced inventory. The company sees full-year profit rising as much as 4%, down from its earlier outlook for 5% and below analyst estimates. Shares fell 6.2% to 39.20.