Falling soup sales hurt Campbell; revenue falls for 11th quarter

 
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For the 11th consecutive quarter, Campbell’s revenue has fallen despite their attempted push into the natural foods market. And they expect sales to continue to fall as well; as much as 2%. However, company mainstays like Pepperidge Farm Goldfish crackers, V8 juice, and SpaghettiOs still make up about 85% of their $1.67 billion in quarterly sales.

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“Campbell’s adjusted earnings per share in the quarter ended July 30 were 52 cents, below analysts’ expectations. The company cut costs, with adjusted marketing and promotional expenses down 12%. Advertising agencies have been hurt by the recent pullback in spending by consumer-products companies.

Sales in the quarter fell 1.4% to $1.66 billion, below the $1.69 billion expected by analysts polled by Thomson Reuters. On an unadjusted basis, the company reported a profit of $440 million, or $1.04 a share, compared with a loss of $37 million, or 26 cents a share, from a year ago.” 1

Since consumers have begun to favor fresher foods, Campbell’s has tried to diversify by buying brands like Pacific Foods organic soup and Bolthouse Farms refrigerated juice.

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However, with online shopping (Amazon) now being a grocery shopping alternative and meal services like Blue Apron, the competition has gotten much tougher.

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Sources and References

  1. CET US News, September 9, 2017.

Disclaimer: This article is not intended to provide medical advice, diagnosis or treatment.

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