Campbell CEO expects elevated demand to continue after soup sales soar 35%

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Sales of Campbell Soup’s iconic broths and chowders soared 35% during the company’s fiscal third quarter, thanks to changes in consumer behavior brought by the coronavirus pandemic.

And even as the states reopen their economies and warmer summer weather starts to hit the country, CEO Mark Clouse expects elevated demand for its products to continue.

“Even if consumption is a bit down, I would expect shipments to outrun that as we replenish inventory levels in our retailers,” he said on CNBC’s “Squawk on the Street” on Wednesday.

Consumers stocked up on Campbell’s canned soups and other goods during the early

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Second layoffs, backlogs wave keeps U.S. jobless claims elevated

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WASHINGTON (Reuters) – The novel coronavirus crisis continues to pummel the U.S. labor market, with the number of Americans filing for unemployment benefits falling less than expected last week, suggesting a second wave of layoffs in industries and jobs not initially impacted by business closures caused by the pandemic.

The Labor Department’s weekly jobless claims report on Thursday, the most timely data on the economy’s health, supports economists’ contention that it would take a while for activity to rebound even as businesses in many states reopen after shuttering in mid-March as authorities tried to slow the spread of COVID-19, the

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