The Campbell’s Company (CPB) released its third quarter earnings report on Monday, June 2. Despite reporting increased net sales for the quarter, the company’s shares decreased almost 2% following the release.

Net sales came in at $2.48 billion for the quarter, up 4% from $2.37 billion in net sales during the same quarter last year. This exceeded analysts’ expectations of $2.44 billion in net sales.

“We delivered solid third quarter results that exceeded our expectations partially due to favorable shipment timing,” said Campbell’s CEO, Mick Beekhuizen. “Our overall performance reflects our strong execution and disciplined cost management in what remains a dynamic operating environment. We continue to evolve our organization and capabilities to better leverage our scale for growth and drive long-term value creation."

For the quarter, Campbell’s reported net income of $66.0 million or $0.22 per adjusted share. This was a decrease from $133.0 million in net income or $0.44 per adjusted share at this time last year.

The company’s Meals & Beverages segment, which includes its line of soups and beverages such as Swanson, Prego, Pace, V8 and Pacific Foods, posted revenues of $1.46 billion, a 15% increase in net sales for the quarter. The Snacks segment, which includes Pepperidge Farm cookies and Goldfish crackers, reported an 8% decrease in net sales and net revenue of $1.01 billion. Campbell’s reaffirmed its full year fiscal 2025 guidance and expects an increase in net sales of 6% to 8% and a decrease in adjusted share earnings of 4% to 1% to $2.95 to $3.05.

The Campbell’s Company (CPB) shares ended the week at $34.48, down 1% for the week.

Dollar Tree Posts Earnings

Dollar Tree, Inc. (DLTR) reported its first quarter earnings on Wednesday, June 4. The discount retailer’s stock fell approximately 8% despite reporting net sales for the quarter that met expectations.

Net sales reached $4.6 billion during the quarter. This was up 11.3% from $4.2 billion in net sales last year at this time and exceeded analysts’ expectations of $4.5 billion.

“Our strong first quarter performance underscores the progress we have made against our strategic priorities and is a clear signal that our customers are responding positively to the changes we are making,” said Dollar Tree CEO, Mike Creedon. “History has shown that we have the resilience to emerge stronger from periods of economic uncertainty and in today’s rapidly evolving environment, we see a meaningful opportunity to further elevate the value, convenience, and discovery that our customers depend on Dollar Tree to provide.”

The company posted net income of $343.4 million or $1.61 per adjusted share. This was up from $300.1 million or $1.38 per adjusted share during the same quarter last year.

The company opened 148 new Dollar Tree stores and three new Family Dollar stores during the quarter, ending the quarter with a total of 16,612 stores throughout North America. Same-store net sales increased 5.4%, reflecting a 2.5% increase in traffic and a 2.8% increase in average ticket. The company announced the sale of its Family Dollar store segment for $1.007 billion, which is expected to close during the second quarter of fiscal 2025. The company reaffirmed its guidance and anticipates net sales to be in the range of $18.5 billion to $19.1 billion for fiscal 2025.

Dollar Tree, Inc. (DLTR) shares ended the week at $94.50, up 4.7% for the week.

Cracker Barrel Serves Up Quarterly Earnings

Cracker Barrel Old Country Store, Inc. (CBRL) announced its third quarter earnings report on Thursday, June 5. The Tennessee-based company reported quarterly revenue that missed expectations, causing its stock to dip by nearly 3%.

Cracker Barrel posted quarterly revenue of $821.1 million. This was up from $817.1 million reported during the same quarter last year and below analysts’ expectations of $827.6 million.

"Our third quarter performance exceeded our expectations and represents the fourth consecutive quarter of positive comparable store restaurant sales growth,” said Cracker Barrel CEO, Julie Masino. “We remain focused on executing our transformation plan and believe we are well-positioned to deliver a strong finish to the fiscal year."

Cracker Barrel reported third quarter net income of $12.6 million or $0.56 per adjusted share. Last year at this time, the company reported a net loss of $9.2 million or $0.41 per adjusted share.

Cracker Barrel comparable store restaurant sales increased 1.0%, while comparable store retail sales decreased 3.8%. The company ended the period with 658 Cracker Barrel stores and 70 Maple Street Biscuit Company stores, a net increase of seven additional company-owned stores compared to the prior year. The company confirmed it authorized a quarterly cash dividend of $0.25 per share of common stock payable on August 13, 2025, to shareholders of record as of July 18, 2025. The company reaffirmed its full-year 2025 guidance and continues to anticipate revenue in the range of $3.45 billion to $3.50 billion.

Cracker Barrel Old Country Store, Inc. (CBRL) shares closed at $55.38, down 3% for the week.

The Dow started the week of 6/2 at 42,200 and closed at 42,763 on 6/6. The S&P 500 started the week at 5,897 and closed at 6,000. The NASDAQ started the week at 19,063 and closed at 19,530.

U.S. Treasury yields fell early in the week as investors reacted to the latest payroll data for the private job sector. Yields increased towards the end of the week after jobless claims rose higher than expected, intensifying concerns about the labor market.

On Wednesday, ADP reported that private sector job creation stalled in May, indicating a weakening labor market. The payroll processing company detailed that private sector hiring rose by 37,000 in May, below the 60,000 added in April and far below Wall Street’s expectations of 110,000. This marked the lowest monthly job total counted by ADP in more than two years.  

“The Fed will take notice of slower job growth, but this will not be enough to convince them to cut interest rates near term,” said chief economist for Comerica Bank, Bill Adams. “Labor force growth will also be slower in 2025 due to less immigration, so less job growth is needed to hold the unemployment rate steady.”

The benchmark 10-year Treasury note yield opened the week of June 2 at 4.41% and traded as low as 4.32% on Thursday. The 30-year Treasury bond opened the week at 4.94% and traded as low as 4.83% on Thursday.

On Thursday, the U.S. Department of Labor reported that initial claims for unemployment increased by 8,000 to 247,000 for the week ending May 31. This was more than the 235,000 claims that analysts anticipated and marks the highest level experienced since October. Continuing claims decreased by 3,000 to 1.90 million. On Friday, the Bureau of Labor Statistics released its monthly jobs report for May which indicated the unemployment rate held steady at 4.2% in May. The report also noted an increase of 139,000 jobs in May, above economists’ forecasts of 130,000.

"We will not dismiss the rise in claims over the last two weeks, which may be signaling weakening labor market conditions in response to the Trump administration's tariff policies and uncertainty," said lead U.S. economist at Oxford Economics, Nancy Vanden Houten. "However, seasonal quirks might have contributed to the rise in claims."

The 10-year Treasury note yield finished the week of 6/2 at 4.51%, while the 30-year Treasury note yield finished the week at 4.97%.

Freddie Mac released its latest Primary Mortgage Market Survey on Thursday, June 5. According to the survey, the mortgage rates for 30-year and 15-year loans fell for the first time in over a month.

This week, the 30-year fixed mortgage rate averaged 6.85%, a decrease from last week’s average of 6.89%. Last year at this time, the 30-year fixed mortgage rate averaged 6.99%.

The 15-year fixed mortgage rate averaged 5.99% this week, down from last week’s average of 6.03%. During the same week last year, the 15-year fixed mortgage rate averaged 6.29%.

"The average mortgage rate decreased this week, which is welcome news to potential homebuyers who also are seeing inventory improve and house price growth slow,” said chief economist at Freddie Mac, Sam Khater.

Based on published national averages, the savings rate was 0.42% as of 5/19. The one-year CD averaged 1.75%.

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