The Campbell’s Company (NASDAQ:CPB) is one of the stocks Jim Cramer evaluated, along with the fragile food market. Cramer noted that the company’s latest quarter was “awful across the board.” The Mad Money host said:

The food group is in so much trouble that they may need to do something radical to turn things around. Yesterday, Campbell’s reported one of the worst quarters I’ve seen in ages. It was awful across the board. Revenues fell 5%. Organic sales dropped 3%. The snack business, chips and pretzels, unbelievably bad. Even the bright spots like the recent acquisition of Rao’s pasta sauce got canceled out by Prego. Stock hit a 17-year low as people started wondering if Campbell’s would be able to cover their dividend. Yet management was defiant in their conviction that things are going well, which made it agonizing to listen to the conference call.

A stock market chart. Photo by Arturo A on Pexels

The Campbell’s Company (NASDAQ:CPB) manufactures and sells soups, broths, sauces, juices, frozen meals, and beverages. In addition, it offers a wide range of snacks through brands such as Pepperidge Farm, Goldfish, Snyder’s of Hanover, Cape Cod, and Kettle Brand.

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