Beverage News

Campbell reports 3rd-quarter results

May 21, 2013
/ Print / Reprints /
/ Text Size+

Camden, N.J.-based Campbell Soup Co. reported a 15 percent increase in sales to nearly $2.1 billion for the third quarter of fiscal year 2013. In the United States, its soup business grew in the double digits; its global baking and snack sales were up 5 percent; and its new Bolthouse Farms acquisition increased sales by 11 percent. However, U.S. beverage sales declined 5 percent, it noted.

Bolthouse Farms and Campbell’s foodservice business reached $344 million during the third quarter, with the acquisition of Bolthouse Farms contributing $205 million. Sales in North America Foodservice declined 10 percent compared with the prior-year period, primarily due to declines in frozen soup, reflecting the loss of a major restaurant customer, it reported.

Sales for U.S. beverages were $198 million for the third quarter, which represents a decrease of 5 percent compared with the year-ago period. The decrease in sales was due to declines in V8 vegetable juice, the company stated.

“We are disappointed that certain parts of our portfolio did not perform well in the quarter,” said President and Chief Executive Officer Denise Morrison in a statement. “U.S. Beverages faced ongoing softness in the shelf-stable juice category and heightened competition. North America Foodservice continued to be challenged by the loss of a major restaurant customer and structural shifts in the foodservice sector. We are aggressively pursuing plans to improve the performance of these businesses.”

Nevertheless, Morrison said that she is pleased with the company’s overall third-quarter results and the performances by a number of the company’s key businesses.

“Our strategic plan is intended to deliver sustainable, profitable net sales growth,” Morrison said in a statement. “We are still in the early stages of executing this plan, and we know that more work lies ahead. We believe our encouraging third-quarter results demonstrate the long-term promise of the plan. We are making good progress in changing Campbell’s growth trajectory.”

As a result, the company revised its previous fiscal year 2013 guidance. Campbell now expects to grow sales at the upper end of the 10- to 12-percent range. This guidance includes the estimated impact of the Bolthouse Farms business and excludes the impact of acquisition transaction costs and restructuring charges. In fiscal year 2013, Campbell expects Bolthouse Farms to contribute approximately $750 million to sales, including the impact of the suspension of Campbell’s strategic share repurchase program.

 Did you enjoy this article? Click here to subscribe to Beverage Industry.  

You must login or register in order to post a comment.



Image Galleries

Dinner with Tequila Don Julio

Diageo is taking its Tequila Don Julio brand on the road this summer with a rolling Airstream Speakeasy mobile craft cocktail bar. The team stopped in Chicago on July 29 to share some specialty tequila cocktails paired with food from Chicago restaurants Honey Butter Fried Chicken and The Radler as well as dessert venues Black Dog Gelato and Baker Miller. (Photos by Jennifer Haderspeck)

9/17/14 2:00 pm EDT

The Path to New Product Success: Navigating the latest trends for new beverage development

By attending this webinar, you will learn about the top trends and how they fit into the CPG market, which channels are influencing new products and technology, how Packaging fits into your product development, and ways you can use innovation to increase sales.


Gert van Manen, president of iTi Tropicals Inc., shares his insights on the U.S. coconut water market. Citing research from Krueger Food Laboratories, he also supplies information highlighting the difference between products that declare their added sugars and those that do not.

Beverage Industry Magazine

BI October 2014 cover

2014 October

The October 2014 Beverage Industry includes a cover story on our 2014 Executive of the Year, Keurig Green Mountain's CEO Brian Kelley, as well as articles about bottled water consumption, whey nutrition, and more. Check it out today!

Table Of Contents Subscribe

Bottled Water Trends

Which bottled-water trend will fare the best in 2015?
View Results Poll Archive


Cleaning-in-Place: Dairy, Food and Beverage Operations, 3rd Edition

This book addresses the principles of cleaning operations, water supply issues and the science of detergents and disinfectants.

More Products

Beverage Insider eNewsletter

Are you an Insider? Subscribe to Beverage Industry’s weekly e-newsletter to receive news headlines, new product information and magazine highlights.   


facebook40 twitter    youtubelinkedgoogle+ icon 40px


Beverage Industry Webinars are an easy, effective and convenient way to get educated and informed on the latest industry trends and topics. All Webinars are FREE unless indicated. For more information, check out our Events page!