The Campbell's Company - CPB STOCK NEWS

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.

Campbell Soup Company (NYSE:CPB) reported strong second-quarter fiscal 2023 results, with net sales rising 12% to $2.5 billion and organic net sales increasing 13%. Earnings Before Interest and Taxes (EBIT) grew 8% to $350 million, while adjusted EBIT surged 14% to $362 million. Earnings Per Share (EPS) rose 10% to $0.77 and adjusted EPS climbed 16% to $0.80. The company raised its fiscal 2023 guidance for net sales and adjusted EBIT, reflecting robust brand strength and effective supply chain management. CEO Mark Clouse highlighted continued consumer connection and operational focus, leading to sustained performance.

Campbell Soup Company (NYSE: CPB) announced that President and CEO Mark Clouse and CFO Carrie Anderson will participate in a fireside chat at the BofA Securities 2023 Consumer and Retail Conference on March 14, 2023, at 1:00 p.m. EST. The discussion will be available through a live webcast, which can be accessed here. A replay will be available for one year following the event at this link.

Founded in 1869, Campbell has generated fiscal 2022 net sales of $8.6 billion and is renowned for brands such as Campbell’s, Goldfish, and Pepperidge Farm.

The Board of Directors of Campbell Soup Company (NYSE:CPB) has declared a quarterly dividend of $0.37 per share. This dividend is set to be paid on May 1, 2023, to shareholders on record as of the close of business on April 6, 2023. Campbell Soup Company, based in Camden, N.J., reported net sales of $8.6 billion in fiscal 2022. The company operates iconic brands like Campbell's, Pepperidge Farm, and V8, and emphasizes sustainability and community contributions.

Campbell Soup Company (NYSE: CPB) will report its second-quarter fiscal 2023 financial results on March 8, 2023. Mark Clouse, President and CEO, along with other executives, will host an investor conference call at 8:00 a.m. ET to discuss the results. The earnings press release will be available before the call. Interested parties can access the webcast at investor.campbellsoupcompany.com/events-presentations/. A transcript and replay will be posted on the company’s website shortly after the event.

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 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.