Campbell Takes Actions to Reshape Portfolio toward Faster-Growing Spaces; Outlines Fiscal 2018 Priorities
Highlights Innovative Partnerships, Pending Acquisition
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At its annual Investor Meeting, Campbell outlined plans to build greater trust with consumers through real food, transparency and sustainability; accelerate digital marketing and e-commerce efforts; continue to diversify Campbell's portfolio in fresh foods and health and well-being; and increase its presence in the faster-growing snacking category. (Photo: Business Wire)
- Building greater trust with consumers through real food, transparency and sustainability;
- Accelerating digital marketing and e-commerce efforts;
- Continuing to diversify Campbell’s portfolio in fresh foods and health and well-being; and
- Increasing its presence in the faster-growing snacking category.
Morrison said, “In the last six years, we've made significant progress activating our Purpose, 'Real Food that Matters for Life's Moments,’ and transforming our portfolio toward faster-growing spaces. Our intention has been to move Campbell in the direction of health and well-being. We are committed to accelerating those efforts and strive to be the leading health and well-being food company because we recognize that real food and healthier food is better for our consumers and better for our business.”
Today, Campbell has approximately
In response to changing consumer needs around health and well-being,
Campbell has taken deliberate steps to reshape its portfolio through
internal innovation, changes to its recipes and a series of
acquisitions, including
Morrison said, “Campbell‘s goal to lead in health and well-being is attainable, but we will need to redouble our efforts by extending the real food credentials of our current brands and adding more brands that resonate with consumers; improving our rate of innovation; and increasing our distribution capabilities in new channels. Some of this we can build ourselves, but in other instances we will have to leverage external development.”
Building Trust Through Real Food, Transparency and Sustainability
Campbell unveiled an agreement with
These efforts complement Campbell's commitment to its real food
philosophy with an ongoing investment of
Accelerating Digital Marketing and E-Commerce Efforts
Alexander also highlighted Campbell's plans to accelerate the company’s
digital and e-commerce capabilities by forming an e-commerce unit in
Alexander said, "We're investing in digital and e-commerce across the enterprise with a goal of building industry-leading capabilities and relationships that will drive innovation in this space.”
To support these efforts, the company announced it has hired
Broadening the Lens of the Faster-Growing Snacking Category
Mignini outlined the division’s growth plans in fiscal 2018 to expand
the division’s footprint: drive the snacking portfolio in
Campbell anticipates adding approximately
A replay of the presentations, along with accompanying slides, will be available at investor.campbellsoupcompany.com after the completion of the event.
About
Campbell (NYSE:CPB) is driven and inspired by our Purpose: “Real food
that matters for life’s moments.” We make a range of high-quality soups
and simple meals, beverages, snacks and packaged fresh foods. For
generations, people have trusted Campbell to provide authentic,
flavorful and readily available foods and beverages that connect them to
each other, to warm memories and to what’s important today. Led by our
iconic Campbell’s brand, our portfolio includes
Forward-Looking Statements
This release contains “forward-looking statements” that reflect the
company’s current expectations about the impact of its future plans and
performance on the company’s business or financial results. These
forward-looking statements rely on a number of assumptions and estimates
that could be inaccurate and which are subject to risks and
uncertainties. The factors that could cause the company’s actual results
to vary materially from those anticipated or expressed in any
forward-looking statement include (1) the company’s ability to manage
changes to its organizational structure and/or business processes; (2)
the company’s ability to realize projected cost savings and benefits
from its efficiency programs; (3) the impact of strong competitive
responses to the company’s efforts to leverage its brand power in the
market; (4) the impact of changes in consumer demand for the company’s
products and favorable perception of the company’s brands; (5) the
impact of product quality and safety issues, including recalls and
product liabilities; (6) the risks associated with trade and consumer
acceptance of the company’s initiatives, including its trade and
promotional programs; (7) the impact of a changing customer landscape,
with value and e-commerce retailers expanding their market presence,
while certain of the company’s key customers continue to increase their
significance to the company’s business; (8) the impact of changing
inventory management practices by certain of the company’s key
customers; (9) the impact of disruptions to the company’s supply chain,
including fluctuations in the supply of and inflation in energy and raw
and packaging materials cost; (10) the impact of non-U.S. operations,
including trade restrictions, public corruption and compliance with
foreign laws and regulations; (11) the ability to complete and to
realize the projected benefits of acquisitions, divestitures and other
business portfolio changes; (12) the uncertainties of litigation and
regulatory actions against the company; (13) the possible disruption to
the independent contractor distribution models used by certain of the
company’s businesses, including as a result of litigation or regulatory
actions affecting their independent contractor classification; (14) the
company’s ability to protect its intellectual property rights; (15) the
impact of an impairment to goodwill or other intangible assets; (16) the
impact of increased liabilities and costs related to the company’s
defined benefit pension plans; (17) the impact of a material failure in
or breach of the company’s information technology systems; (18) the
company’s ability to attract and retain key talent; (19) the impact of
changes in currency exchange rates, tax rates, interest rates, debt and
equity markets, inflation rates, economic conditions, law, regulation
and other external factors; (20) the impact of unforeseen business
disruptions in one or more of the company’s markets due to political
instability, civil disobedience, terrorism, armed hostilities, natural
disasters or other calamities; and (21) other factors described in the
company’s most recent Form 10-K and subsequent
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Source:
Campbell Soup Company INVESTOR CONTACT: Ken Gosnell, 856-342-6081 Ken_Gosnell@campbellsoup.com or MEDIA CONTACT: Thomas Hushen, 856-342-5227 Thomas_Hushen@campbellsoup.com