Campbell Outlines Progress on Strategies; Reiterates Fiscal 2012 Guidance

Campbell Soup Company CPB will outline its progress on its growth strategies and its plans to return to growth in fiscal 2013 at a meeting with investors led by President and Chief Executive Officer Denise Morrison. A web cast of the presentation will be available at investor.campbellsoupcompany.com beginning at 9:00 a.m. Eastern Daylight Time today. Morrison said, “We've made progress in this fiscal year, and we will continue to advance our core strategies for growth in fiscal 2013. Our strategic framework is a roadmap to drive smart, meaningful and successful change at Campbell. We will tend very carefully to our core business, while we shift our center of gravity toward new consumer groups, new consumer needs, new consumer platforms and new geographies.” Campbell's three growth strategies focus on: Stabilizing and then profitably growing its North America soup and simple meals business; Expanding its international presence, particularly in emerging markets; and Continuing to grow its healthy beverages and baked snacks businesses. Morrison and other members of Campbell's management team will outline plans to continue to implement these strategies in the upcoming fiscal year. U.S. Simple Meals Mark Alexander, President Campbell North America, will outline plans to stabilize and profitably grow North America soup and simple meals by leveraging all the drivers of consumer demand across its portfolio, including new product innovation, compelling marketing and merchandising. Campbell plans to introduce more than 50 new products in its U.S. Simple Meals business in fiscal 2013—ranging from new varieties of “Chunky” and “Campbell's” condensed soups to delicious new soups under the “Campbell's Go” platform and “Campbell's” Skillet Sauces. Alexander said, “We've made a step change in our innovation efforts. When you look at what we have on tap for fiscal 2013, you'll see that our newly implemented innovation program is really starting to bear fruit, helping us fill our pipeline with new products that appeal to our loyal consumers while also reaching new ones.” In addition, the company will also highlight new advertising to promote enhancements to its line of “Chunky” soups with the return of its Mama's Boys campaign featuring NFL player Victor Cruz. Global Baking & Snacking Irene Chang Britt, Campbell's Senior Vice President of Global Baking and Snacking, will share her perspective on opportunities to drive growth through increased collaboration across Campbell's businesses in North America and Asia Pacific. As an example, Pepperidge Farm recently launched “Jingos!” snack crackers, a product based on the same bold flavor profiles as “Arnott's” “Roadies,” introduced last year in Australia.