Pandemic continues to drive sales for Campbell Soup
Camden based Campbell Soup continues to see strong sales as people seek comfort food while staying indoors.
Food Business News reports sales were up another 7% over the same period last year; soup sales were up 21%. Driving the increase was the company’s Meals and Beverages division, with CEO Mark Clouse quoted as saying, “Our condensed soups were the highlight of the quarter, with double-digit net sales growth gains in share.” He said the Snacks division, which includes brands like Pop Secret, Snyder’s Pretzels, and Goldfish, provided impressive results as well, “Snacks continued to deliver strong results while increasing capacity in key power brands. We continue to build a high-performing Snacks business with differentiated brands and improving margins.”
The Camden mainstay also believes that growth will continue because they saw recipe related page views on their website increase 20%. Mark Clouse says they "continue to bring new ideas and recipes to consumers who are cooking more frequently at home. As these first-time cooks gain more confidence, we believe they will likely continue to use these skills to prepare more meals at home well beyond the pandemic.” The pandemic has also changed the way people shop for food, opting for delivery and shopping online, “E-commerce sales of Campbell Soup products jumped 85% during the quarter, versus a year earlier."
Campbell Soup has been around since way back in 1869, founded by Joseph Campbell and Abraham Anderson.
Interesting fact: According to the company, 11% of people eat soup when they’re hung over with 21% of millennials saying they do so.
The post above reflects the thoughts and observations of New Jersey 101.5 talk show host Bill Doyle. Any opinions expressed are Bill Doyle's own.