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Founded in 1869, Campbell Soup Company (NYSE: CPB) is a leading food manufacturer in North America, famous for its iconic red-and-white labeled canned soup. Headquartered in Camden, New Jersey, Campbell has grown its portfolio over the years to include a wide range of products and brands, such as Pepperidge Farm, Goldfish, Snyder's of Hanover, Swanson, Pacific Foods, Prego, Pace, V8, and most recently, Rao's, which was acquired in March 2024.
Campbell's fiscal 2023 revenue distribution highlights its diversified business model: snacks contributed to 50% of total revenue, soup 29%, other simple meals 13%, and beverages 8%. The majority of Campbell's sales, nearly 90%, come from the United States, with the remainder from Canada and Latin America.
In recent news, Campbell Soup Company has partnered with McCain Foods USA and the Soil Health Institute (SHI) in a project funded by the USDA's Regional Conservation Partnership Program (RCPP). This initiative aims to improve soil health and promote climate-smart agricultural practices on over 6,000 acres of potato farms in Wisconsin and Maine. McCain and Campbell's involvement highlights their commitment to sustainable farming practices and environmental stewardship.
Campbell Soup Company generated fiscal 2023 net sales of $9.4 billion and continues to be a trusted name for delicious and affordable food and beverages. The company prides itself on a long-standing tradition of giving back to the community and acting as a responsible environmental steward. Campbell is a member of the Standard & Poor's 500 and is included in the FTSE4Good and Bloomberg Gender-Equality Indices.
Campbell Soup Company (NYSE:CPB) reported a 3% decline in net sales to $2.21 billion for Q2 FY2022, with adjusted EPS dropping 16% to $0.69 amid supply constraints and inflation. Year-over-year demand remains strong with a 1% increase in consumption. The company expects improved financial performance in the second half of FY2022 due to recent pricing actions and enhanced labor conditions. Full-year guidance for 2022 remains unchanged, anticipating steady demand and recovery in supply levels, although core inflation is projected to be in low double-digits.
The Board of Directors of Campbell Soup Company (NYSE:CPB) has declared a quarterly dividend of
Campbell Soup Company (NYSE: CPB) will report its second-quarter fiscal 2022 financial results on
Campbell Soup Company (NYSE:CPB) has been recognized as one of the 100 Most Sustainable Corporations in the World by Corporate Knights, ranking 89th overall. This accolade highlights Campbell's commitment to sustainability, with strong performance in areas such as clean revenue and employee safety. The company generated nearly $8.5 billion in net sales in fiscal 2021 and continues to emphasize transparency and corporate responsibility, being included in multiple sustainability indices.
Campbell's has partnered with CAMP to launch two limited-edition scented candles: Tomato Soup & Grilled Cheese and Chicken Noodle Soup. The candles are designed to evoke winter joy and come with a 'Winter Warmup Guide' featuring family activities. Available at select CAMP stores and online for $24 each, 10% of proceeds will benefit Feeding America. The initiative aims to create memorable family experiences during winter, with aromas reminiscent of Campbell's iconic soups. CMO Linda Lee emphasized the importance of family moments in their marketing strategy.
Campbell Soup Company (NYSE:CPB) announces the retirement of Bob Furbee after 38 years, effective April 2022. Daniel L. Poland is appointed as Executive Vice President and Chief Supply Chain Officer, starting January 10, 2022. Poland has extensive experience in the consumer packaged goods industry, previously serving as COO of KIND Snacks and in senior roles at Pinnacle Foods and WhiteWave Foods. The leadership transition aims to ensure continuity in Campbell's supply chain amid challenges.
Instacart, North America's leading online grocery platform, has partnered with Campbell Soup Company to celebrate and reward Instacart shoppers during the holiday season. Beginning December 17, 2021, shoppers completing 10 or more deliveries can enter the Souper Shopper Sweepstakes for a chance to win prizes totaling $50,000. This initiative recognizes the vital role of shoppers in delivering groceries and essentials, particularly during the busy holiday season. Over 200 shoppers will have the opportunity to win cash prizes of $200 or $500.
Campbell Soup Company (NYSE:CPB) held an Investor Day detailing its strategic plans for growth. The company introduced a new long-term growth algorithm aiming for ~2% organic net sales growth, with adjusted EBIT growth of 4-6% and adjusted EPS growth of 6-8% through fiscal 2025. Key highlights include expanding the cost savings program to $1 billion, a focus on innovation in Snacks and Meals & Beverages, and a shift in capital allocation towards strategic acquisitions. This approach aims to enhance shareholder value and maintain a strong balance sheet.
Campbell Soup Company (NYSE: CPB) will host its Investor Day on December 14, 2021, from 9:00 a.m. ET to 12:00 p.m. ET. Key executives, including CEO Mark Clouse, will discuss the company's turnaround strategy and future plans. Topics include enhancing the Snacks segment led by Valerie Oswalt, updating the Meals & Beverages strategy by Chris Foley, and CFO Mick Beekhuizen's insights on strong cash flow and shareholder value. A live webcast will be available, along with a replay and transcript post-event.
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