Campbell Soup Rolls Out New Products
CAMDEN, N.J. (AP) — Campbell Soup Co. is hoping to draw in younger consumers and meet the needs of those looking for fast, inexpensive meals, with plans to roll out a variety of soups in pouches and sauces that can be used to create dinners quickly.
Campbell has been trying to regain lost ground after several years of declining soup sales. Shoppers have curbed their soup consumption, stopped stocking pantries or shifted to competitor's brands. Campbell is in the midst of a turnaround plan that includes adding more expensive, higher-quality soups and broadening offerings in its snack, beverage and other categories.
Campbell, which is most well known for its red and white soup cans, reported on Friday that its second-quarter net income dropped 14 percent. The company has been spending more on its marketing efforts. It has also been discounting less and raising some prices to help offset rising costs.
The company's new product plans were part of its presentation at the annual Consumer Analyst Group of New York conference in Boca Raton, Fla., on Wednesday.
The company said its Campbell's Go! Soup will come in pouches and be available in five to six flavors including coconut curry and Moroccan chicken. Meals under the same brand will be geared toward younger shoppers, with contemporary packaging and graphics.
For those always on the run, Campbell's Skillet Sauces can be added to meats or poultry to create a dinner in three steps.
Other products include a line of soups named Campbell's Gourmet Bisques. These will include a tomato roasted garlic bacon flavor and a Thai tomato coconut soup. The Campbell's Slow Kettle brand, which has found success with more affluent shoppers, will be expanded to include more soups, stews, chilis and chowders.
Campbell said that the products are expected to debut early in the next fiscal year.
Among its beverages, Campbell will launch a V8 V-Fusion sparking drink in slim cans later this year and V8 V-Fusion juice boxes for children. There will also be some new Pepperidge Farm products.
Shares of the Camden, N.J. added a penny to $33.06 in afternoon trading. The stock has changed hands between $29.69 and $35.66 in the past 52 weeks.