Campbell Soup Co. has posted a 3.4% fall in quarterly earnings, despite an increase in revenues of almost 7%, as restructuring costs and a higher tax bill hit profits. The world’s largest soup maker reported a drop in third-quarter net income to US$168m for the three months to 2 May, down from $174m last year. Earnings per share remained unchanged at $0.49 as Campbell’s share capital dropped by 2.6% on the year. However, the company said that adjusted earnings – stripping out the impact... ...Read more »

Campbell’s® Select Harvest® soups were ranked the top new food and beverage product of 2009, according to a report released by Information Resources Inc. (IRI). IRI’s annual New Product PacesettersTM report showcases the most innovative and successful new products of the year in the consumer packaged goods industry. According to the IRI report, Campbell’s Select Harvest soups generated $202 million in sales in its first year on the market.This marks the second time in three years... ...Read more »

Campbell Soup Co. plans to use promotions to revive sales of its ready-to-serve soups in the US after a quarter in which sales of the products slid 18%.The fall in ready-to-serve soup sales, particularly Campbell’s Chunky range, weighed on the company’s domestic soup revenues, which fell 8% during the three months to the end of January. The company said it had managed to increase sales of condensed soup and broths on a volume basis but admitted a lack of promotional activity had held... ...Read more »

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... ...Read more »

The Campbell Soup Company has reported profit growth of 17 per cent in the first quarter of Fiscal 2010 despite a two per cent drop in sales. Douglas Conant, Campbell’s President and Chief Executive Officer, said the company was enthused by the results, which were driven by improved efficiency in the supply chain. “We feel good about our performance in the first quarter as we delivered solid earnings growth across all of our key businesses,” he advised. “We’re especially... ...Read more »

A compromise has been reached between food manufacturer Campbell’s Soup and workers at their factory in Shepparton. Work at the factory in Victoria came to a halt last Friday when employees launched industrial action due to a breakdown in negotiations over new workplace agreements. Employees had since been locked out and not paid since Friday night, but an agreement has now reportedly been reached. Campbell’s said the agreement regarding a draft flexibility clause to be included in the... ...Read more »

Campbell Soup Company reported a profit decline of US$20 million in the fourth quarter as currency movements and an impairment charge hit the bottom line. On a comparable basis, however, profit rose 11 per cent. Similarly, adjusted sales fell 11 per cent due to the currency impact, one less trading week and the impact of divestitures, but comparable sales rose two per cent. The world’s largest soup manufacturer and owner of the Arnott’s biscuit brand said the results had met expectations... ...Read more »

The Campbell’s Soup factory in Shepparton has come to a halt today as employees of the company launched industrial action. The ABC reports that around 150 maintenance and production staff have gone on strike for a period of 24 hours as negotiations for a new enterprise bargaining agreement continue. Damian King from the Australian Manufacturing Workers Union said that negotiations have fallen down in response to flexibility arrangements. “We’ve had protracted negotiations, we still... ...Read more »