Campbell sees shopper value orientation remaining intact
Campbell Soup Company is confident about its soup operations as they still see grocery shoppers looking for cost-effective meal solutions.
Soup sales were not particularly strong in the first quarter, but have improved since then, Campbell Soup CFO Craig Owens advised at a recent investor meeting in New York.
“We are getting into the serious part of the soup season,” he said, according to Reuters. “I am hoping for ‘good cold weather’ in January and February.”
The value orientation of consumers is seen as beneficial by Campbell, and they expect it to linger for a while.
“As we look forward, the consumer’s value-consciousness is not something that is going to go away in the next quarter or two,” Mr Owens said. “That will continue to be a theme. We are thinking about as we think about product introductions, cost and expense management. We are going to have to drive more of our top line with volume.”
The company has recently revised sales guidance up for the current financial year, from 3-4% to 4-5%.