The Campbell's Company reports news on a North American packaged-food business organized around Meals & Beverages and Snacks. Its updates commonly cover performance across brands including Campbell's, Goldfish, Pepperidge Farm, Prego, Pace, Swanson, V8 and Rao's, along with quarterly results, guidance, dividend declarations and supply-chain leadership.
Company news also includes brand partnerships and product marketing, community and foundation programs, completed portfolio actions such as the Sovos Brands acquisition and La Regina investment tied to Rao's Homemade, and corporate governance or investor-relations appointments.
Campbell Soup Company (NYSE:CPB) announced the appointment of Carrie L. Anderson as Executive Vice President and Chief Financial Officer, effective February 6. Anderson will oversee the finance function including controllership, corporate financial planning, and analysis, among other areas. She succeeds Mick Beekhuizen, who transitioned to President of the Meals & Beverages division. Anderson joins from org value="NASDAQ-NMS:IART"Integra LifeSciences where she served as CFO since 2019. With a background in diverse industries and a strong financial acumen, her leadership is expected to enhance Campbell's growth and performance.
Campbell's introduces its spiciest offering yet, the Chunky Ghost Pepper Chicken Noodle Soup, launching on January 27, 2023. Only the first 500 customers who sign a humorous waiver will get to experience this fiery soup, which is thirteen times hotter than its Spicy Chicken Noodle counterpart. Each purchase includes a 'cool off kit' with a cooling towel, a fan, and more. This new product aims to capitalize on the growing demand for spicier options in Campbell's lineup, which includes various spicy flavors introduced in 2022. The initiative reflects consumer interest in bold flavors and aligns with Campbell's tradition of innovative food experiences.
Campbell Soup Company (NYSE: CPB) plans to consolidate its Snacks offices from Charlotte, N.C., and Norwalk, Conn., into its Camden, N.J. headquarters. This transition will involve an investment of approximately $50 million over three years to enhance facilities and accommodate over 1,600 employees. The company anticipates annual cost savings of $10 million by fiscal year 2026, contributing to margin improvements in the Snacks division. No commercial roles will be eliminated, and eligible employees will receive relocation support. The move aims to foster a collaborative culture and modern work environment.
Campbell's Chunky, the official soup sponsor of the NFL, has launched the Chunky FuelUp Tournament in Fortnite Creative, enhancing engagement with the gaming audience during the NFL playoffs. The tournament features three football-themed challenges: Spicy Soup Sprint, Protein Power Course, and Hearty Hail Mary. It runs from January 12 to February 3, with participants competing for NFL prizes including signed merchandise and game tickets. The finale will be streamed live on February 8 on Nickmercs' Twitch channel.
Campbell Soup Company (CPB) announced a robust 15% increase in net sales, driven by inflation-related pricing and brand strength, leading to a reported EBIT rise of 16% to $436 million. Adjusted EPS also grew 15%, reaching $1.02. The company has raised its fiscal 2023 guidance, now projecting net sales growth of 7% to 9%, up from 4% to 6%. Despite a decrease in cash flow from operations, Campbell remains committed to shareholder value with ongoing stock repurchases and dividends. The company achieved $10 million in savings under its cost savings program and aims for $1 billion by fiscal 2025.
The Board of Directors of Campbell Soup Company (NYSE:CPB) has declared a quarterly dividend of $0.37 per share, payable on January 30, 2023. Shareholders of record by the close of business on January 5, 2023 will receive the dividend. Campbell generated nearly $8.6 billion in net sales during fiscal 2022, continuing its legacy of providing affordable food and beverages. The company is recognized as a member of the S&P 500 and various sustainability indices, reflecting its commitment to environmental stewardship.
Campbell Soup Company (NYSE: CPB) will report its first-quarter fiscal 2023 financial results on December 7, 2022. An investor conference call and webcast will take place at 8:00 a.m. ET, hosted by Mark Clouse, CEO, and Mick Beekhuizen, CFO. Interested parties can access the call via the company website. The earnings press release will be distributed before the call. Campbell generated nearly $8.6 billion in net sales in fiscal 2022, showcasing its long-standing presence in the food industry.
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Campbell Soup Company (NYSE:CPB) announces key management changes to enhance growth and support its strategic plan. Mick Beekhuizen is appointed President of Meals & Beverages while continuing as CFO until a successor is found. Chris Foley moves from President of Meals & Beverages to lead Snacks. Beekhuizen brings financial and operational excellence, overseeing a $4.6 billion division, while Foley, with a record in brand building, will drive the $3.9 billion Snacks division's growth and margins. Former Snacks President Valerie Oswalt has left for a new opportunity.
Campbell Soup Company announced the launch of FlavorUp!, a new cooking concentrate designed to enhance meals with just a tablespoon. Available in three flavors—Rich Garlic & Herb, Caramelized Onion & Burgundy Wine, and Savory Mushroom & Herb—the product caters to busy consumers seeking restaurant-quality flavor at home. This innovative solution is timely, as 41% of consumers are cooking at home more due to tighter budgets. Suggested retail price is $4.59. The product will be available nationwide and online.