July 20, 2011
Eight days after it said it was adding salt to many of its soups to enhance their taste and the company's sales, Campbell Soup Co. on Wednesday tweaked its message for consumers - this time, emphasizing choice. The Camden company said it will continue to sell lower-sodium soups, juices and sauces, including some new varieties. "It's vital we provide people with a choice," said Denise Morrison, Campbell chief operating officer, who will become chief executive on Aug. 1. - Paul Schweizer
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.
June 26, 2012 |
Campbell Soup Co., of Camden, has hired Accenture to handle back-office financial operations, such as credit, billing and collections, and will eliminate about 70 of the 110 jobs in its Cherry Hill office over the next eight to ten months, Campbell spokesman Anthony Sanzio said. Sanzio did not provide an estimate of how much the move would save, but said the savings would be "significant. " Under new chief executive Denise Morrison, Campbell is attempting to rebound from a protracted growth slump, but its stock continues to struggle.
June 23, 2011 |
As expected, Campbell Soup Co. named Denise Morrison president and chief executive, effective Aug. 1, succeeding Douglas R. Conant, who served more than 10 years in that role, the company said Thursday. Morrison, who joined the Camden company that also makes V8 juices and Pepperidge Farm baked goods in 2003, was promoted to chief operating officer last October, in anticipation of her likely elevation to the top job. Morrison, 57, said that during her time as COO she visited Campbell operations that previously did not report to her as president of Campbell's largest unit, North American soup, sauces and beverages.
March 18, 2013
On hearing that his daughter had just been named CEO of Campbell Soup Co., Denise Morrison's father congratulated her and then asked: "What's your next goal?" For many of us, being named the head of a Fortune 500 company would be the culmination of a long, hard climb, validation of our success. But that's not how Morrison, 59, and her three sisters were raised in the coastal community of Elberon, N.J. Dinner conversation with Dennis Sullivan, an AT&T executive as well as a father, delved into marketing plans, focus groups, and the art of negotiation, Morrison said.
November 21, 2012 |
Campbell Soup Co. first-quarter revenue rose 8 percent mostly because of new products in its portfolio with the recent acquisition of Bolthouse Farms of California but profits fell because of transaction and restructuring costs. Denise Morrison, the chief executive officer who was hired in 2011 to jolt the company into a higher-growth mode, said in a conference call the Camden company introduced 50 new products this year, compared with three in 2010, and is targeting younger consumers.
August 31, 2013 |
Camden-based Campbell Soup Co. on Thursday reported a $158 million loss in its fiscal fourth quarter, mainly because of accounting charges related to its previously announced plan to sell a European division. The iconic soup business is healthy, however, with the company reporting that sales increased 5 percent for the fiscal year that ended July 28 and that there would be a new Mama's Boy spokesman - Green Bay Packers linebacker Clay Matthews - appearing in Chunky Soup TV commercials when the NFL season starts Sept.
September 3, 2011 |
Better-than-expected financial results from Campbell Soup Co. for its fourth quarter were not enough to keep its stock price from sagging ahead of the Labor Day holiday. Shares closed at $31.46, down 40 cents, or 1.3 percent, on a day when the major U.S. equity indexes slumped by at least 2.1 percent after the release of a weak report on August employment. Campbell Soup's sales for the three months ended July 31 were $1.61 billion, up 6 percent from $1.52 billion for the fourth quarter a year ago. Net income of $100 million, or 31 cents per share, was down 12 percent from $113 million, or 33 cents per share.
May 24, 2013 |
Continuing its efforts to shift into faster-growing areas of the supermarket, Campbell Soup Co. said Thursday that it had reached an agreement to buy Plum Organics, a California producer of baby foods and snacks for toddlers and older children. Campbell did not say what it agreed to pay for Plum, owned by the venture-capital firm Catamount Ventures. Founded in 2007 by Neil Grimmer, the current chief executive, and a partner in Catamount Ventures, Plum Organics had $93 million in gross sales last year.
February 19, 2011 |
Tough times continue at the Campbell Soup Co., which Friday reported lower revenue from soup in the quarter ended Jan. 31 despite steep discounting designed to keep pace with competitors and prevent more lost ground to other quick-meal options. For the second time in six months, Campbell, which employs 1,200 at its Camden headquarters, reduced its sales and earnings estimates for its current fiscal year, which ends in July. The company's shares lost nearly 4 percent of their value, closing down $1.36 Friday at $33.58 on the New York Stock Exchange.