June 2, 2000 |
Campbell Soup Co., whose red-and-white cans were once a staple of American kitchens, made a series of executive appointments as part of a broad management shake-up aimed at boosting the flagging market share and profitability of its U.S. soup business. Two months after David Johnson returned to the helm of the company, Campbell promoted Marty Thrasher to president of Campbell North America, where the Camden N.J.-based company's performance has shown particular weakness.
May 18, 2000 |
Campbell Soup Co. reported a 14% drop in its fiscal third-quarter earnings and said full-year results may miss forecasts because of weak demand for its soups. The maker of Campbell's Soup, Pepperidge Farm cookies and crackers and V8 vegetable drinks said earnings fell to $139 million, or 32 cents a share, from $162 million, or 37 cents, a year ago. Net sales fell 7% to $1.4 billion as U.S. soup consumption fell 9%, Campbell said.
May 1, 2000 |
The world's largest grower of macadamia nuts has changed hands. Campbell Soup Co. said Friday that it has sold MacFarms of Hawaii to Blue Diamond Growers, a cooperative owned by California nut producers, for an undisclosed price. The sale includes 3,900 acres of macadamia orchards and a processing plant in South Kona on the island of Hawaii. MacFarms also buys nuts from 600 independent growers.
March 23, 2000 |
Campbell Soup Co. said Dale F. Morrison quit as president and chief executive of the world's largest soup maker, whose stock has fallen by half since November 1998. Morrison, 51, was appointed to those positions in June 1997. David W. Johnson, 67, who held the same roles from 1990 to 1997, will be interim chief executive while the company searches for a permanent replacement.
September 1, 1999 |
Campbell Soup Co.'s Pepperidge Farm unit has persuaded a federal appeals court to continue barring Nabisco Inc. from selling fish-shaped cheese crackers similar to Pepperidge Farm's popular goldfish crackers. The U.S. 2nd Circuit Court of Appeals concluded that a federal judge in New York properly ordered Nabisco to stop using the goldfish shape and to recall all CatDog animal cracker products that include the fish. Nabisco, the largest U.S.
August 26, 1999 |
Campbell Soup Co. is tampering with an American icon: the red-and-white soup label popularized by pop artist Andy Warhol. The company says it's the most significant change in its history and will include 70 varieties in its condensed soup line. The new label has a photograph of a bowl of soup at the center, a recipe on the back and a colored banner to distinguish the soup category. Since 1898, Campbell has made only 14 minor changes to the red-and-white label.
June 26, 1999 |
Campbell Soup Co. issued its second profit warning of the year and launched a restructuring that will combine its U.S. soup operation and grocery division with its stronger Canadian business. The world's leading soup maker said fiscal fourth-quarter earnings would be 8 to 10 cents per share below Wall Street estimates of a break-even 38 cents, because shipments of its condensed soups were not keeping pace with a 3% rise in soup consumption.
February 17, 1999 |
Wal-Mart Stores Inc. said its profit increase exceeded expectations in the fiscal fourth quarter as it lured more shoppers with price cuts and kept a lid on costs. The world's largest retailer said net income rose 21% to $1.56 billion, or 70 cents a share, from a year earlier. The results topped analysts' forecasts by 3 cents a share, the fifth straight quarter of better-than-expected results, according to First Call Corp. Revenue jumped 15% to $40.