Campbell's Co. Reports Increased Sales Amid Rise in Home Cooking
Campbell's Co. sees a 15% rise in broth sales as Americans cook more at home, while snack sales decline by 4%.
Overview
Campbell's Co. reported a 4% increase in net sales to $2.5 billion for the fiscal third quarter, driven by a 15% rise in broth sales as more Americans cook at home. CEO Mick Beekhuizen noted that consumers are focusing on budget-friendly products, leading to the highest level of home cooking since early 2020. However, snack sales, including Goldfish and Cape Cod chips, fell by 4%. Other companies like McDonald's also report a trend towards home dining amid economic uncertainty.
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Analysis
- Campbell's Co. reports increased sales in broth and soup due to rising home cooking trends among Americans.
- The article highlights a decline in snack sales, suggesting mixed results for the company.
- Overall, the tone is optimistic about Campbell's Co.'s performance despite some challenges.
Articles (3)
Center (1)
"…Campbell’s net sales rose 4% to $2.5 billion for the fiscal third quarter, which was in line with Wall Street’s expectations."
Associated Press·1M·FAQ
The increase was primarily driven by a 15% rise in net sales from the Meals & Beverages segment, including a 6% organic growth, partly due to the Sovos Brands acquisition and increased home cooking trends.
The Snacks segment experienced an 8% decline in net sales and a 5% decrease in organic net sales, indicating challenges in this division.
Campbell's expects net sales growth of 6-8% for fiscal year 2025, with organic sales growth ranging from down 2% to flat. Adjusted EPS guidance remains at the lower end of the range.
History
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