Campbell's beverage sales increase 10 percent
November 23, 2010
Campbell Soup Co., Camden, N.J., reported its U.S. beverage sales grew 10 percent during the quarter ended Oct. 31, according to the company’s first quarter of fiscal 2011 results. Overall, the company’s sales decreased 1 percent to $2.2 billion, which was impacted by increased promotional spending and a 5 percent decrease in U.S. soup sales in the quarter, the company says.
“This year, our beverages business started off with another quarter of double-digit growth, driven by our continued innovation of ‘V8 V-Fusion’ beverages and effective advertising,” said Douglas R. Conant, president and chief executive officer of Campbell Soup Co., in a statement.
Double digit increases were reported for V8 V-Fusion juices, which was attributed to increased marketing support and new item launches, the company says. During the quarter, Campbell’s introduced V8 V-Fusion + Tea varieties and Cranberry-Blackberry Light variety. The company’s V8 line reported increased sales due to increased advertising. Its V8 Splash juice drinks also had a double-digit increase.