Campbell's Company What Changes Lie Ahead
Description
Campbell Soup Company, established 155 years ago, has changed its name to Campbell's Company following a shareholder vote. This shift marks a strategic move to diversify beyond soups into more profitable sectors like snacks, which saw a 13% sales increase last year compared to soup's 3% growth. Snacks made up nearly 48% of total net sales in the last fiscal year. The Goldfish brand reached $1 billion in annual sales, matching the company’s signature soup. The rebranding reflects an expanded product range, including items like Prego sauce and Goldfish crackers. Earlier this year, Campbell acquired Sovos Brands for $2.7 billion, adding Rao's sauces and Noosa's yogurt to its offerings. Campbell expects snacks to grow by 3% to 4% annually, while meals and beverages may see only 1% to 2% growth. The company aims to attract younger consumers with new spicy soup flavors and reports indicate sales may rise due to changing buying habits among this demographic. Recent financial reports show fourth-quarter earnings increased from $2.068 billion to $2.293 billion over the same period.
Learn more on this news visit us at: https://greyjournal.net/
Hosted on Acast. See acast.com/privacy for more information.
United States
