CAMDEN, N.J. -- Campbell Soup Co. outlined its progress Tuesday on its growth strategies and its plans to return to growth in fiscal 2013 at a meeting with investors led by president and CEO Denise Morrison.
"We've made progress in this fiscal year, and we will continue to advance our core strategies for growth in fiscal 2013. Our strategic framework is a roadmap to drive smart, meaningful and successful change at Campbell. We will tend very carefully to our core business, while we shift our center of gravity toward new consumer groups, new consumer needs, new consumer platforms and new geographies," she said.
Campbell's three growth strategies focus on stabilizing and then profitably growing its North America soup and simple meals business; expanding its international presence, particularly in emerging markets; and continuing to grow its healthy beverages and baked snacks businesses.
Irene Chang Britt, Campbell's senior vice president of global baking and snacking, shared her perspective on opportunities to drive growth through increased collaboration across Campbell's businesses in North America and Asia Pacific.
As an example, Pepperidge Farm recently launched Jingos! snack crackers, a product based on the same bold flavor profiles as Arnott's Roadies, introduced last year in Australia.
Britt said, "We've invested both dollars and people into innovation and collaboration, and it is paying dividends. This has led to a track record of growth and share gains in our core markets and will fuel the opportunity to grow beyond our core."
Alexander also outlined fiscal 2013 plans for U.S. beverages, including efforts to drive the V8 100% vegetable juice business and to fuel continued growth in the V8 V-Fusion franchise. Campbell will introduce the first line extensions to V8 100% vegetable juice in nearly 10 years, and will also launch V8 V-Fusion Iced Teas in lemon and peach flavors, among other new product innovations.
Mark Alexander, president Campbell North America, outlined plans to stabilize and profitably grow North America soup and simple meals by leveraging all the drivers of consumer demand across its portfolio, including new product innovation, compelling marketing and merchandising. Campbell plans to introduce more than 50 new products in its U.S. Simple Meals business in fiscal 2013--ranging from new varieties of Chunky and Campbell's condensed soups to delicious new soups under the Campbell's Go platform and Campbell's Skillet Sauces.
Alexander said, "We've made a step change in our innovation efforts. When you look at what we have on tap for fiscal 2013, you'll see that our newly implemented innovation program is really starting to bear fruit, helping us fill our pipeline with new products that appeal to our loyal consumers while also reaching new ones."
In addition, the company will also highlight new advertising to promote enhancements to its line of Chunky soups with the return of its Mama's Boys campaign featuring NFL player Victor Cruz.
Camden, N.J.-based Campbell Soup is a global manufacturer and marketer of foods and simple meals, including soup and sauces, baked snacks and healthy beverages. Founded in 1869, the company has a portfolio of market-leading brands, including Campbell's, Pepperidge Farm, Arnott's and V8.
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