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Campbell’s to Debut 30 New Products in 2013

Soup company is full of flavor for next year


Campbell Soup Co. (NYSE: CPB)Soup has been struggling, but Campbell Soup Company (NYSE:CPB) is ready to spice up its servings — and hopefully its sales. The company is set to debut at least 30 new products in fiscal 2013, according to Food Business Review — as many new products as have been added in the past two years combined.

High commodity costs combined with low sales have hurt the business, with ready-to-serve soup sales in particular lagging behind, despite Campbell’s attempts to grow that part of its business. CPB, which also sells snacks and beverages, saw earnings slip 5% in its most recent quarter, and shares have slid about 6% since the May 21 report.

The solution? At least 30 products with specific targets, including:

  • Chunky Chipotle Chicken & Corn Chowder Soup
  • Chunky Jammin’ Jerk Chicken Soup
  • Two new Select Harvest line bisques
  • Soup in a pouch
  • “Skillet Sauces”

The Chunky chicken soups will continue to target young men, following the strategy evident in previous Chunky ad campaigns featuring NFL players and blue-collar workers. The Harvest line targets organic-food-lovers — a common trend in food marketing — with its main distinction being 100% natural ingredients. Both the Chunky and Harvest lines will sport updated labels.

The on-the-go pouches and other new flavors, along with non-soup products like V8 in juice boxes, are meant to appeal to younger consumers. Simple “Skillet Sauces” for cooking meat aim to rival frozen dinners in their ease of use.

Article printed from InvestorPlace Media,

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