The Campbell's Company Stock Price, News & Analysis

Former Campbell Soup Company President and CEO Dale F. Morrison passed away at 74 on April 8, 2023, in Naples, Florida. Morrison's leadership from 1997 to 2000 significantly impacted the company, having joined in 1995 as President of Pepperidge Farm. He was instrumental in launching V8 Splash beverages and establishing Campbell’s Chunky soup's NFL sponsorship. Under his guidance, Campbell experienced notable sales growth, particularly with iconic brands like Goldfish and Milano. The company reported fiscal 2022 net sales of $8.6 billion, reflecting its longstanding presence in the food industry since 1869.

The Campbell Soup Company (NYSE: CPB) announced $800,000 in Community Impact Grants to 40 nonprofits, enhancing community welfare in areas where it operates. This initiative, totaling over $2.2 million for fiscal 2023, aims to improve food access and promote healthy living. 35% of the recipients are first-time awardees, supporting various programs, including food pantries and nutrition education. The grants empower Campbell employees to nominate organizations making a significant local impact. Since 1953, the Campbell Soup Foundation has focused on community support, fostering initiatives that nurture neighborhoods and enhance health.

SpaghettiOs is launching a new flavor, Spicy Original, featuring Frank's RedHot, aiming to attract adult consumers nostalgic for the brand. This product responds to a growing trend for spicy foods, as nearly 50% of surveyed adults consume SpaghettiOs weekly, with 35% adding spice to their meals. Priced at $1.59, the new flavor targets millennials, who represent over one-third of SpaghettiOs' annual sales. This collaboration is expected to appeal to the existing fanbases of both brands, enhancing market engagement and potential sales growth.