Campbell Soup Company (NYSE:CPB) expects to launch more
than 200 new products in fiscal 2014 as the company strengthens its
core businesses and expands into higher-growth spaces, including
new consumer segments, categories and geographies, President and
Chief Executive Officer Denise Morrison and her management team
said today at a meeting with investors.
(Photo: Campbell Soup Company)
Reviewing Campbell’s growth and performance in fiscal 2013,
Morrison said, “We’ve grown our percentage of sales from both
sustaining and disruptive innovation, and we’ve multiplied the
number of new breakthrough ideas in the pipeline.”
To build on its momentum, Campbell is responding to the evolving
tastes, preferences and needs of both its core consumers and new
consumers by driving innovation across soup and simple meals,
snacks and healthy beverages.
Soup and Simple Meals
Campbell plans to launch Campbell’s Homestyle soups, a new line
with “the taste that takes you home,” which will feature wholesome
ingredients like juicy strips of roasted white meat chicken,
vegetables with farm-fresh goodness and seasoned chicken stock.
This delicious product has no added preservatives and will be
available in 29 varieties.
Campbell intends to build on the success of its Campbell’s
Chunky soup line, which delivered strong growth in the past year,
with new pub-inspired varieties, including Hearty Cheeseburger,
Spicy Chicken Quesadilla and Philly-Style Cheesesteak. These new
flavors are designed to further enhance the brand’s strong appeal
to males with hearty appetites who enjoy filling, ready-to-serve
soup. With Green Bay Packers linebacker Clay Matthews as the new
star of its popular Mama’s Boy advertising campaign, Campbell’s
Chunky also plans to launch new and improved recipes for some of
its most popular varieties, including New England Clam Chowder,
Old-fashioned Vegetable Beef and Beef with Country Vegetables.
Consumers can also expect a new Creamy Thai Style Chicken and
Rice variety of Campbell’s Go soups, a premium line of soups that
features microwaveable pouch packaging and bold, adventurous
flavors, as well as new varieties of Healthy Request and Campbell’s
condensed soups.
Creating a New Dinner Sauce Category
The introduction of Campbell’s Slow Cooker Sauces will expand
the company’s offerings in the dinner sauce category. Campbell’s
Slow Cooker Sauces will make it easy for consumers to prepare
convenient meals with their favorite meats in slow cookers, which
are owned by more than 80 percent of U.S. households and used to
prepare nearly 500 million meals a year. To drive consumer
awareness about this easy and delicious dinner sauce, Campbell is
partnering with CrockPot®, a brand leader in slow cookers with
almost half of the market share. Campbell’s Slow Cooker Sauces will
be available in six varieties, including Apple Bourbon Barbecue and
Tavern Style Pot Roast.
The launch of Campbell’s Slow Cooker Sauces builds on the
introduction of Campbell’s Skillet Sauces, which are expanding in
fiscal 2014 with two new varieties: Creamy Parmesan Chicken and
Sweet & Sour Chicken.
Mark Alexander, President - Campbell North America, said,
“Together, these innovative products are enabling Campbell to tap
into the nearly $200 billion dinner segment with consumer
propositions that are unique, delicious and convenient.”
For consumers who enjoy creative cooking, Campbell expects to
introduce a new line of Swanson flavor-infused broths featuring a
selection of culinary-inspired varieties such as Mexican Tortilla
and Thai Ginger.
Pepperidge Farm Goldfish Expands Into New Territory
The iconic Goldfish brand continues to grow after more than 50
years. To expand its appeal, the company has launched Goldfish
Puffs, cheesy air-puffed baked snacks that have been created with
teens in mind. Goldfish Puffs are just 140 calories per serving and
gluten-free. Additionally, Goldfish crackers are expected to be
offered in new varieties inspired by Hispanic taste preferences,
including Salsa Con Queso, Fiesta Flavor Blasted and Kick It Up a
Nacho.
The company is also making a splash at mealtime with Pepperidge
Farm Goldfish Mac & Cheese, the brand’s first entry in the
simple meals category. Made with real cheese sauce, Goldfish Mac
& Cheese aims to delight children while making it easy for moms
to serve a quick and delicious simple meal or snack. Goldfish Mac
& Cheese will be available exclusively in Walmart stores
nationwide.
To entice consumers with a sweet tooth and drive continued
growth in Pepperidge Farm cookies, the company expects to launch
two limited-edition holiday varieties of Milano cookies:
Chocolate-dipped Milano and a Candy Cane Milano. Pepperidge Farm
also plans to continue to rotate seasonal varieties of its Dessert
Shop cookies, with Pumpkin Cheesecake and Caramel Apple varieties
returning this fall.
Irene Chang Britt, SVP - Global Baking and Snacking and
President - Pepperidge Farm said, “Our innovation plans are based
on changes we are seeing in the macro-snacking environment, where
there’s been a significant shift in people’s eating patterns. The
number of people snacking three to four times a day or more has
risen substantially with mini meals replacing traditional meal
times. Pepperidge Farm has a broad spectrum of products to meet
these consumers’ needs – from sandwich bread, rolls and baked
crackers to sweet and indulgent treats.”
Getting Refreshed with V8 Juices
Campbell plans to introduce V8 V-Fusion Refreshers, a new
thirst-quenching juice cocktail that offers a crisper, cleaner
taste. V8 V-Fusion Refreshers juice cocktails are expected to be
available in four delicious varieties, including Black Cherry Berry
and Cranberry Grape.
To drive growth in specialty beverages such as energy drinks and
kids juice boxes, Campbell is expanding its V8 V-Fusion + Energy
beverage range by introducing two new diet varieties: Diet
Strawberry Lemonade and Diet Cranberry Raspberry. Campbell is also
rolling out new variety packs of V8 V-Fusion juice drink boxes for
kids as well as a new grape variety. The planned launch of V8
Bloody Mary mix will enable consumers to enjoy the great taste of
V8 100% vegetable juice as a mixer.
V8 Harvest juice will be the brand’s first entry in the
rapidly-growing $12 billion packaged fresh category. This fresh
100% tomato vegetable juice was developed jointly by Campbell and
Bolthouse Farms, which became part of Campbell in August 2012. V8
Harvest juice will be available in the refrigerated section of the
retail store perimeter, where a growing number of consumers are
shopping for fresh foods - particularly Millennials, a key
demographic group for Campbell.
Campbell International
Luca Mignini, President - Campbell International, highlighted
activities around the world with a focus on Australia and
China.
In Australia, Campbell is focused on growing its iconic Arnott’s
biscuit business, the company’s third-largest brand. In the
upcoming fiscal year, Campbell will build on the success of this
year’s Tim Tam Treat Packs, smaller-sized packages designed for
“treating” occasions. The company will also focus on building V8
juices down under, where the brand has 90 percent awareness but
only 12 percent household penetration. Campbell plans to continue
to introduce new flavors, including a “light” V8 V-Fusion beverage
and drive trial with advertising and in-store activation. Finally,
the company will meet the home cooking trend with recipe
development and advertising featuring an Australian celebrity chef
for its Real Stock brand.
In China, Mignini noted that the pending acquisition of Kelsen
Group will give Campbell a solid platform for growth in baked
snacks.
About Campbell Soup Company
Campbell Soup Company is a manufacturer and marketer of
high-quality foods and simple meals, including soup and sauces,
snacks and healthy beverages. Founded in 1869, the company has a
portfolio of market-leading brands, including “Campbell’s,”
“Pepperidge Farm,” “Arnott’s,” “V8,” “Bolthouse Farms” and “Plum
Organics.” Through its corporate social responsibility program, the
company strives to make a positive impact in the workplace, in the
marketplace and in the communities in which it operates. Campbell
is a member of the Standard & Poor’s 500 and the Dow Jones
Sustainability Indexes. For more information, visit
www.campbellsoupcompany.com or follow company news on Twitter via
@CampbellSoupCo.
Cautionary Note Regarding 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 sales, earnings, and margins. 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 impact
of strong competitive responses to the company’s efforts to
leverage its brand power in the market; (2) the impact of changes
in consumer demand for the company’s products; (3) the risks
associated with trade and consumer acceptance of the company’s
initiatives; (4) the company’s ability to realize projected cost
savings and benefits; (5) the company’s ability to manage changes
to its business processes; (6) the practices and increased
significance of certain of the company’s key trade customers; (7)
the impact of fluctuations in the supply or costs of energy and raw
and packaging materials; (8) the impact of portfolio changes,
including the Plum Organics acquisition and the expected Kelsen
Group acquisition; (9) the uncertainties of litigation; (10) the
impact of changes in currency exchange rates, tax rates, interest
rates, debt and equity markets, inflation rates, economic
conditions and other external factors; (11) the impact of
unforeseen business disruptions in one or more of the company’s
markets due to political instability, civil disobedience, armed
hostilities, natural disasters or other calamities; and (12) other
factors described in the company’s most recent Form 10-K and
subsequent Securities and Exchange Commission filings. The company
disclaims any obligation or intent to update the forward-looking
statements in order to reflect events or circumstances after the
date of this release.
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