Campbell’s Cuts Outlook to 17-Year Low as Shoppers Forgo Chips

Campbell’s Co. cut its profit outlook to the lowest in a decade as consumers eschew chips and pretzels while supply constraints are weighing on sales of freshly baked goods.

Full-year earnings, adjusted for some items, are now seen between $2.15 to $2.25 per share, below the prior range of $2.40 to $2.55, according to a Wednesday statement. That’s set to be the lowest profit since 2009.