Campbell Has $238-Million Loss in Quarter

PHILADELPHIA — Campbell Soup Co. on Wednesday reported a $238.4-million loss for its fourth quarter. The food company paid the cost of a major restructuring that includes plant closings and the sale of secondary businesses.

For the three-month period ending July 29, sales rose 11% to $1.44 billion from $1.30 billion. A year earlier, Campbell lost $194.7 million, including restructuring charges of $260.8 million.

The loss included restructuring charges of $302 million, covering the plant closings and the planned sale of non-core North American and European businesses.

In the year ended July 29, Camden, N.J.-based Campbell reported a small profit of $4.4 million, down from $13.1 million the year before, while sales rose 9% to $6.21 billion from $5.67 billion.

“It was not a stellar fourth quarter, but it was not expected to be,” said Prudential-Bache Securities analyst John McMillin. “The problem is the international operations. They are working as hard as they can to clean that up.”