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Snacks & Candy

Campbell Soup Credits Snack Brands for Strong 3rd Quarter

Seven of the company’s 10 core U.S. snacking brands either grew or maintained during this period

CAMDEN, N.J. — The Campbell Soup Co. garnered $2.4 billion in total sales during the third quarter of its fiscal 2019, a 12% jump compared to this time in 2018. This gain reflected Campbell’s U.S. biscuits and snacks divisions, as well as the company’s acquisition of Snyder’s-Lance Inc. in March 2018, said Anthony DiSilvestro, senior vice president and chief financial officer of Campbell, during the company’s third-quarter earnings call on June 5.

“Overall, we had a good quarter as results exceeded our expectations,” DiSilvestro said. “Sales performance of the Snyder’s-Lance portfolio was in line with our expectations with solid consumption and market-share gains for the first nine months of fiscal 2019.”

Seven of Campbell’s 10 core U.S. snacking brands either grew or maintained during the third quarter, said Mark Clouse, president and CEO of the company, during the call. Organic sales for brands beyond Snyder’s-Lance increased 1%, driven by strong performances from Pepperidge Farm’s fresh bakery items and Goldfish crackers—especially the new Epic Crunch variety.

“I continue to be impressed with the proven snacks growth model at Pepperidge Farm,” he said. “This marks the 18th consecutive quarter of organic growth with sales increasing mid-single digits behind strong marketplace performance across all major brands.”

Campbell’s Farmhouse and Swirl rolls and buns sparked growth for the company’s fresh bakery business. Both brands boosted its product offerings and packaging during the third quarter, which contributed to the overall increase, Clouse said.

Overall, the company expects these performance trends to continue to improve in the fourth quarter.

“I continue to be pleased with the progress and the pace of the overall integration [of Snyder’s-Lance],” Clouse said. “The snacks leadership team has created new ways of working, and instilled greater discipline across the combined division. The team is focused on achieving our savings targets, while also accelerating the growth of this key business.”

Camden, N.J.-based Campbell Soup produces foods and meals, such as soup and sauces, snacks and healthy beverages. Besides Snyder’s-Lance and Pepperidge Farm, its brand portfolio includes Bolthouse Farms, Arnott’s, V8, Swanson, Pace, Prego, Plum, Royal Dansk, Kjeldsens, Garden Fresh Gourmet, Pacific Foods, Kettle, Cape Cod, Snack Factory Pretzel Crisps, Pop Secret, Emerald, Late July and others.

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