Latest news with #CampbellSoupCompany
Time of India
03-06-2025
- Business
- Time of India
Canned soup maker Campbell's beats estimates as eat-at-home trend boosts demand
HighlightsCampbell Soup Company exceeded third-quarter sales and profit estimates, driven by strong demand for canned food and soups as consumers opt to eat at home amid economic uncertainty. The company maintained its fiscal 2025 net sales growth forecast at 6 per cent to 8 per cent, but projected annual adjusted profit per share at the lower end of its previous forecast due to declining demand in the snacks segment. Campbell Soup Company reported a 4 per cent increase in net sales to $2.48 billion for the quarter, surpassing analysts' expectations, and introduced new snack products to stimulate demand in its snacks business. Prego pasta sauce maker Campbell's Co beat third-quarter sales and profit estimates on Monday, helped by strong demand for its popular canned food and soups as consumers increasingly prefer to eat at home in the face of an uncertain economy. Fears of a potential recession and price hikes triggered by the imposition of hefty tariffs dented consumer sentiment in the U.S. and prompted people to be more judicious in their spending patterns, including trading down to cheaper brands and ditching costly dine-outs. "Consumers are cooking at home at the highest levels since early 2020 and turning to our brands for value, quality and convenience," said Campbell's CEO Mick Beekhuizen. The company maintained its fiscal 2025 forecast for net sales growth in the range of 6 per cent and 8 per cent. It, however, projected annual adjusted profit per share to be at the lower end of its prior forecast range of $2.95 and $3.05, owing to weak demand for snacks. Campbell's, which excluded tariffs from its forecast, expects a hit of between 3 cents and 5 cents per share, accounting for levies currently in place. Volumes for the company's meals and beverages unit rose 7 per cent during the quarter ended April 27, while its snacks business reported a 5 per cent fall. Campbell's has introduced new products such as the Milano white chocolate cookie through its Pepperidge Farm brand and Pop'ums, a snack hybrid combining pretzels and popcorn, to revive demand in its snacks business. Its net sales rose 4 per cent to $2.48 billion during the quarter, compared with analysts' average estimate of $2.43 billion, according to data compiled by LSEG. Adjusted per-share profit of 73 cents also surpassed the estimate of 66 cents. Shares of the company, which have fallen about 18 per cent so far this year, were flat in premarket trading.
Globe and Mail
28-03-2025
- Business
- Globe and Mail
U.S. Frozen Food Market Report 2024-2029 Featuring Leading Players and Market Projections
"U.S. Frozen Food Market Research Report by Arizton" According to Arizton's latest research report, the US frozen food market is growing at a CAGR of 3.41% during 2023-2029. Report Summary Market Size (2029): $92.94 Billion Market Size (2023): $76 Billion CAGR (2023-2029): 3.41% Historic Year: 2020-2022 Base Year: 2023 Forecast Year: 2024-2029 Market Segmentation: Product, Age Group, and End-User The prepared food segment of the US frozen food market is projected to grow at a CAGR of 4.15% during the forecast period. Key drivers of this growth include affordability, increased health consciousness, rising demand for plant-based and premium frozen options, long shelf life, and the appeal of time-saving, convenient food solutions. For the age group under 34, the segment is expected to expand at a CAGR of 3.70%. This growth is driven by the popularity of ready-to-eat meals, innovative product offerings, and busy lifestyles that favor quick meal solutions. The B2C segment of the US frozen food market is anticipated to grow at a CAGR of 3.73% due to the rising demand for convenient meal options and the popularity of frozen desserts and seafood. Working adults rely on frozen meals for their variety, nutritional value, and low-calorie options, driven by limited time for cooking. Key Development In 2023, The Kraft Heinz Company launched its HOMEBAKE 425°/:30™ brand of frozen sides, entrées, and vegetable dishes. Its 15 base products can make around 500 possible menu combinations. The company designed all offerings uniquely to cook together in one standard oven for 30 minutes at 425°F. In March 2024, Campbell Soup Company announced the completion of the acquisition of Sovos Brands, Inc. for $23 per share in an all-cash transaction. It represents a total enterprise value of approximately $2.7 billion. The Sovos Brands portfolio consists of various premium products, including pasta sauces, frozen pizza, frozen entrées, frozen pizza, yogurts, and soups, under the brand names Michael Angelo's, Rao's, and Noosa. B2C End-User Leading the US Frozen Food Market In 2023, the US B2C frozen food market was valued at $48.54 billion. The B2C segment encompasses frozen food sold directly to consumers through various retail channels such as supermarkets, hypermarkets, convenience stores, online retailers, and discount grocers. In 2020, demand for frozen food surged by over 48% from supermarkets and other stores compared to the previous year. Busy consumers increasingly turn to frozen snacks and meals for convenience. Products like frozen pizzas and sandwiches offer quick, microwavable solutions for meals after work, during lunch breaks, and for individuals living alone. The variety of frozen food options caters to different cuisine preferences, dietary needs, and portion sizes. In response to growing health consciousness, US manufacturers are expanding their healthier frozen food options offerings. This includes fruits and vegetables, reduced-sugar or reduced-fat meals, and lean protein choices. Young adults are driving demand for affordable and convenient frozen foods, with particular interest in frozen desserts and pizzas. These trends are expected to significantly contribute to the growth of the B2C frozen food market in the US during the forecast period. The U.S. Frozen Food Market Overview: Vendor Dynamics and Competitive Strategies The U.S. frozen food market report highlights data on 28 key vendors. National brands are innovating with new formats, flavors, and healthier options to meet evolving consumer preferences. To maintain a competitive edge, these companies emphasize the nutritional benefits of their frozen products. Larger companies are acquiring smaller producers and sellers to align with premiumization trends and expand their product portfolios. This approach also aims to increase their market share. Many new entrants are making a mark with flavorful frozen dishes, competing on price and quality. Private-label brands are capitalizing on convenience and affordability by offering frozen food at lower prices. Leading companies in the market include Conagra Brands, Inc., General Mills, Hormel Foods, JBS Foods, Kellanova, Nestlé, Smithfield Foods, Sysco Corporation, The Kraft Heinz Company, and Tyson Foods. Key Vendors Conagra Brands, Inc. General Mills Hormel Foods JBS Foods Kellanova Nestlé Smithfield Foods Sysco Corporation The Kraft Heinz Company Tyson Foods Ajinomoto Bellisio Foods, Inc. B&G Foods Inc. Campbell Soup Company J&J Snacks Foods McCain Foods Rich Products Corporation Schwan's Company American Frozen Foods Amy's Kitchen Dairy Farmers of America Inc. Danone North America J.R. Simplot Company Koch Foods Lamb Weston Holdings, Inc. National Beef Packing Co. Unilever USA Wawona Frozen Foods Segmentation & Forecast Product Prepared Food Desserts Sea Food Pizza Fully Cooked Meat Fruits & Vegetables Frozen Fresh Meat Others Age Group 35 to 64 Below 34 65 & Above End-User B2C B2B Key Questions Answered in the Report: How big is the U.S. frozen food market? What is the growth rate of the U.S. frozen food market? What are the trends in the U.S. frozen food market? Who are the major players in the U.S. frozen food market? Check Out Some of the Top Selling Reports of Your Interest: U.S. Food Storage Container Market - Focused Insights 2024-2029 U.S. Coffee Machines Market - Focused Insights 2024-2029 Why Arizton? 100% Customer Satisfaction 24x7 availability – we are always there when you need us 200+ Fortune 500 Companies trust Arizton's report 80% of our reports are exclusive and first in the industry 100% more data and analysis 1500+ reports published till date Post-Purchase Benefit 1hr of free analyst discussion 10% off on customization About Us: Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services. We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts. Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
The Guardian
23-02-2025
- Business
- The Guardian
Signs of the times: the stories behind Australia's biggest and best-loved billboards
One of Sydney's most renowned signs – and the largest billboard in the country – has received a makeover to mark its 50th anniversary. At 41 metres wide and 13 metres high, the Coca-Cola sign at Kings Cross presides over one of Sydney's busiest thoroughfares, William Street, and has widely been regarded as the gateway to the inner city enclave since it was the epicentre of Sydney's bohemia in the 1970s. The world's most popular carbonated beverage (the estimated worth of the brand is more than US $33.17bn) is still going strong after more than 140 years. But other distinctly Australian household brands – and their enduring advertising symbols – date back even further. Here is the story behind some of Australia's best-known advertising signs. William Arnott, a Scottish immigrant, opened his first Australian bakery in Morpeth, New South Wales, almost four decades before Coca-Cola was invented. His subsequent bakery in Newcastle morphed into a national biscuit manufacturing company that would stay under the control of the Arnott family for more than a century – and a further 22 years as a wholly Australian owned company – before major US shareholder the Campbell Soup Company executed a takeover in 1997. The same year, Arnott's closed its main factory in North Strathfield, just north of the railway bridge which had been unofficially known as 'the Arnott's bridge' since the company erected its first prominent Sydney signage there in the 1930s. The location was an advertiser's dream. Travelling up Parramatta Road, the enticing aroma of freshly baked biscuits wafted into motorists' nostrils just as they approached the sign. The bridge now sits on the state heritage register. Nostalgic Melburnians hold a special place in their heart for Abbotsford's Little Audrey, the skipping girl thought to be Australia's first animated neon sign in Australia. Born in 1936, Little Audrey's life was cut short at the age of 32 by the demolition company Whelan the Wrecker, founded by Jim Whelan, who was known as 'the most destructive man in Melbourne' due to his company demolishing many of the city's original grand buildings in the late 19th century. Skipping Girl's lights had been switched off when the company that made the vinegar, Nycander & Co, was taken over in the mid 1960s. When Whelan pulled the factory down in the late 60s, Little Audrey disappeared. Within a few years a replica had been created. Her reincarnation was installed on the roof of a nearby electroplating factory by the business's owner, Jack Benjamin, who had led the call for her reinstatement. By the turn of the century, Little Audrey had been placed on the national trust and Victorian heritage registers. The artist who designed Little Audrey in the 1930s, Jim Minogue, would go on to create another iconic Melbourne sign almost three decades later. The Nylex Clock, perched atop malting storage silos in Cremorne since 1961, also now has heritage status. Presiding high over the Yarra River and the Monash Freeway, the clock informed Melburnians of the time and temperature for 48 years. Then Nylex went into receivership. Sign up for the fun stuff with our rundown of must-reads, pop culture and tips for the weekend, every Saturday morning Today, the silos are scrawled in graffiti and the clock on top cuts a grim, unlit silhouette on the dusk city skyline. It was briefly lit up in 2015 when a group calling themselves the Nylex Clock Collective broke into the silos and flicked the clock's switch back on. They failed to take into account that, in the height of summer, it was daylight saving time. The future of the silos, built in the 1880s, and the Nylex Clock, remain uncertain. One of the Gold Coast's ubiquitous high rises now stands on Fern Street where the oh-so-60s neon lit pink poodle once pranced. The motel it advertised disappeared more than 20 years ago but the poodle, with a bit of a makeover, lives on, led further down the street and these days under the protection of the Gold Coast local heritage register. The Pink Poodle Motel was a popular honeymoon destination in the late 1960s and throughout the 1970s, and its neon sign came to represent all the kitsch glamour and glitz the Gold Coast had to offer. The Dingo sign on the heritage-listed flour mill in North Fremantle has long outlived the product it was advertising. The distinctive stylised red dingo appeared some two decades after the mill's construction in 1922, and contrary to popular myth, it was not originally painted by Alan Bond. Sign up to Saved for Later Catch up on the fun stuff with Guardian Australia's culture and lifestyle rundown of pop culture, trends and tips after newsletter promotion Local graphic artist Les Nash painted the original for £40 sterling in 1940, only to have it painted over shortly afterwards – it had already become too recognisable a landmark for second world war enemies. Bond's first wife, Eileen 'Big Red' Bond insists her ex-husband was indeed responsible for the logo's restoration in the 1950s, when he worked as an apprentice with Perth's Parnell Signs. 'Of course it's true, we all knew he did it,' she told the West Australian in 2022. 'Alan always did a lot of moonlighting and he was always up on scaffolding trying to paint anything he could get his hands on to get some money. I really don't know why people would deny it, there is nothing to doubt.' Long before silo art became a thing in Victoria, Melbourne commuters had come to love the Is Don, Is good logo painted on the towering structures in Laurens Street, North Melbourne. Anyone over the age of 30 will associate the giant message with the 1990s ads featuring Scottish-born actor Tommy Gibson Dysart – of Homicide, Cop Shop and Skippy the Bush Kangaroo fame – posing as an Italian godfather figure. According to Melbourne foodie Jan O'Connell, author of Australian Food Timeline, the company, founded in a post-second world war Melbourne coming to terms with continental cuisine, took its name from the last three letters of the suburb Essendon, where one of its butchers shops was located – and not, as many Melburnians believe, in honour of Australia's greatest batsman, Donald 'The Don' Bradman. The current silo design, with the figure of a happy butcher added to the giant salami sticks painted in 2001, was updated in 2014. The old Bond's factory in Camperdown is now the Sydney Nursing School but, like the famous singlet brand, the company's mascot lives on. The now heritage-listed symbol began life in 1940 as a newspaper advertising cartoon, representing Australian manliness while flogging underwear and entertaining readers of the Sun, the Argus and the Times until the 1960s. Chesty's creators Syd Miller and Ted Moloney, working for the J Walter Thompson advertising agency, used the face of Depression-era NSW premier Jack Lang as the inspiration for the heroic character who took on superhero abilities while wearing his athletic singlet. The thrill of new technology arriving in Australia in the early 1900s is epitomised by this art deco structure, which remained Sydney's tallest tower until the 1960s. Amalgamated Wireless Australia (AWA) became Australia's first manufacturer of commercial radios in the 1920s. In 1939, AWA opened its new headquarters in York Street, crowning a building inspired by Paris's Eiffel Tower with an imposing 46m transmission beacon which still stands today. When television was introduced to Australia, the company marked its foray into this new technology by adding neon lighting. The neon is long gone and the tower itself was demolished in the 1990s before being rebuilt and placed on the New South Wales State heritage register.
