Campbell Soup Company to be renamed The Campbell’s Company as snacks become more important to the company
Campbell Soup Company, the food company that owns the iconic soup cans immortalized by Andy Warhol, has announced that it will change its name to The Campbell’s Company.
The company’s CEO, Mark Clouse, , has explained that the decision to rename the group is part of the shift towards the marketing of snacks and their greater weight in turnover. These include brands such as Goldfish and Pepperidge Farm. In addition, Sovo Brands, specializing in Italian food, was recently acquired.
The company reported last month that it posted an attributable net profit of 567 million (513.1 million euros) for the full fiscal year 2024 ended July 28, which was equivalent to a 33.9% decline.
Net sales were 9,636 million dollars (8,719 million euros), up 3%. By business segment, the beverages and prepared foods division advanced 7.2% to 5,258 million dollars (4,758 million euros), while the snacks division dropped 1.6% to 4,378 million dollars (3,961 million euros).
Looking ahead to next year, Campbell’s anticipates net sales growth of 9% to 11% over those posted in 2024, although 2025 will have 53 weeks. These seven extra days will represent a two-point improvement in both comparable and organic revenues. Thus, organic sales growth would be between 0% and 2%.
