Campbell debuts soup in a pouch
The company plans to launch 50 new products in the next year, hoping that some will resonate with shoppers.
The company is planning to launch some 50 new products in the next year, and hopes that more interesting flavors and packages will be a hit with consumers. The idea is to make soups and sauces stand out on supermarket shelves increasingly filled with other meal options.
The company has previously said that Campbell soups are in 85% of homes -- with an average of six cans per home. Sounds great, right? But people forget the cans are there, and then they go out and buy frozen pizzas and other meal options -- which does nothing for Campbell's business.
So Campbell is setting out to make soup you can't forget. It's bringing in new flavors, including Thai tomato coconut and tomato roasted garlic bacon. People "want the food they eat to help them have fun and enjoy life," CEO Denise Morrison said at a conference Wednesday, according to Dow Jones.
Campbell is also preparing a line of "Skillet Sauces" that combine with meats and poultry, Dow Jones reports. And the soups in pouches -- called "Go! Soups" -- come in Coconut Curry, Moroccan Chicken and other flavors.
Campbell is not a favorite with investors. The stock has been on a slow decline from 2010 and closed Wednesday at $33.11. The company's profit dropped last year and is set for another loss this year, InvestorPlace reports, and the stock's price-to-earnings ratio of 14.09 is too high.
Will soup in a pouch help Campbell win back the hearts of American diners?
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The solid report comes a month after the retailer closed all of its Canadian operations.
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