February 19, 2016 |
Campbell Soup Co. has committed $125 million to new venture capital fund, with the goal of investing in startups that are transforming the food industry from farms to home delivery, the Camden company's chief executive officer told analysts Wednesday. Denise Morrison, the CEO, said that since 2010 about 400 startups in the food industry had received about $6 billion in venture-capital funding. "To date our participation in that space has been limited," she said, citing Campbell's unspecified investment in Juicero Inc., a startup developing a new technology for juicing fruits and vegetables, according to a 2014 patent application.
February 12, 2016 |
Campbell Soup Co. is winding down its 42-year-old Labels for Education program because of declining participation, the company said on the program's website. The Labels for Education site said the program had paid for than $110 million in school supplies at tens of thousands of schools across the United States. "During the past year, we've been assessing the impact of these programs and through this, we've seen that participation in Labels for Education has declined considerably," the company said.
November 26, 2015 |
Campbell Soup Co. on Tuesday raised the earnings outlook for its fiscal year ending next summer, after benefiting in its first quarter from higher prices for products and gains in supply-chain efficiency. That news helped push Campbell's shares to a 3.09 percent gain on the New York Stock Exchange, where it closed at $51.33, up $1.54, near a 52-week high of $51.67 in September. The Camden company, whose brands include V8 and Pepperidge Farm, also warned, however, that sales in fiscal 2016 are expected to be flat to down 1 percent, in part because of the negative impact of foreign-currency translation.
January 31, 2015 |
Campbell Soup Co. has shuffled top executives and said it would "proceed on a reorganization of Campbell's corporate functions to deliver agile and effective support to the business divisions, and on a major project to reexamine and redesign the company's cost structure. " In its announcement Thursday, the Camden company, whose gross profit margin has steadily eroded in recent years, provided no specifics on targets for cutting costs. The reorganization, not the first in Campbell's recent history, reduced the company's divisions to three from four.
January 30, 2015 |
George M. Dorrance III, 63, of Villanova, a Royal Bank of Canada wealth manager, died Tuesday, Jan. 27, of leukemia at the Hospital of the University of Pennsylvania. He had been diagnosed with the disease last March. A scion of the Campbell Soup Co. family, Mr. Dorrance was the son of G. Morris Dorrance Jr., former CoreStates chairman, who was eulogized at his death in 2011 as "a banker with a heart. " His grandfather was a prominent surgeon. Mr. Dorrance worked from an office at 6 Tower Bridge in Conshohocken as a wealth manager for RBC Dain Rauscher Corp., which provides banking services to corporate and governmental clients and investment advice and services to individual investors, according to a company profile.
September 10, 2014 |
Richard L. Baker was among more than 30 men who for years have attended a weekly Bible study class at the First Presbyterian Church in Moorestown. "He never missed it. He had a longing to know Scripture," the Rev. Jonathan Miller, the First Presbyterian pastor, said in a phone interview. Getting there took some effort, Miller said: The class was held each Wednesday, at 6:30 a.m. On Friday, Sept. 5, Mr. Baker, 89, who retired in 1990 as deputy general counsel for Campbell Soup Co., died of heart failure at his home in Moorestown.
July 22, 2014 |
"In the future, everyone will be famous for 15 minutes. " Andy Warhol's 15 has been the longest in the history of time, and his fame for his iconic Campbell Soup cans and multiple portraits of Marilyn lives on. The artist who defined the Pop Art movement is the subject of Andy: A Popera , the love child/brainchild of the Bearded Ladies and Opera Philadelphia. Their collaboration will culminate in a full production in March 2015, but meanwhile, this work-in-progress is presented as a cabaret in the Wilma Theater's lobby.
July 22, 2014 |
Campbell Soup Co. officials told analysts Monday that the Camden food company aspires to reach $10 billion in annual revenue within the next five years. That is an aggressive target for Campbell, which has about $8 billion in annual revenue now. Achieving it is likely to require acquisitions, given that Campbell has been failing recently to match its goal of increasing revenue by percent to 4 percent a year, without the help of acquisitions. The purchase of three faster-growing companies in the last two years - Bolthouse Farms carrots and juices, cookie-maker Kelsen Group, and Plum Organics children's foods - has helped build momentum, said Anthony DiSilvestro, the company's chief financial officer.
May 21, 2014 |
Because of weaker-than-expected sales in the first nine months of its fiscal year, Campbell Soup Co. reduced its outlook for full-year revenue growth Monday. The Camden company, whose brands include Chunky soups and Pepperidge Farm breads, said it now expects revenue from continuing operations to increase 3 percent, down from the previous range of 4 percent to 5 percent. Campbell's revenues for the three months ended April 27 were $1.97 billion, up slightly from $1.96 billion in the comparable period a year ago. Net income was $184 million, up 1.7 percent from $181 million the year before.
February 16, 2014 |
Campbell Soup Co. has weather issues on both sides of the country. In the East, there's the cold and the snow, which normally spur consumers to eat up the soup they have in their cupboards and then buy more. But that doesn't always work out. "We definitely acknowledge a benefit of cold temperatures, but we think it was offset by unfavorable weather conditions. We had plant closures for a while, retail store closures, and some lost business in the food-service sector," Denise Morrison, Campbell's president and chief executive, said Friday during a teleconference on the Camden company's second-quarter results.