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Limited Q1 profit advances, raises guidance
Columbus, Ohio -- L Brands Inc., formerly known as Limited Brands, reported Wednesday that profit for the quarter ended May 4 surged 14% to $142.5 million, from $124.6 million last year. The Victoria’s Secret and Bath and Body Works parent increased its outlook for the year.
Quarterly sales rose 5% to $2.27 billion from $2.15 billion, edging Wall Street’s expected $2.26 billion in revenue. Same-store sales increased 3%. -
Campbell acquires Plum Organics
CAMDEN, N.J. — Campbell Soup Company has entered into an agreement to acquire Plum Organics, a provider of premium, organic foods and snacks that serve the nutritional needs of babies, toddlers and children.
The company is based in Emeryville, Calif. Plum is the No. 2 brand of organic baby food in the U.S. and is currently the No. 4 baby food brand overall. Baby food is an approximately $2 billion category in the United States. From 2010 to 2012, the premium and organic segments grew at an average annual rate of 43%.
