Campbell’s Co. says sales rise as more Americans cook meals at home
By Dee-ann Durbin
FILE - The logo for Campbell's Soup appears above a trading post on the floor of the New York Stock Exchange, May 18, 2018. (AP Photo/Richard Drew, File)
The Campbell’s Co. said Monday it saw stronger sales of broth and condensed soup in its latest quarter as more Americans cooked their meals at home.
“Consumers continue to cook at home and focus their spending on products that help them stretch their food budgets, and they’re increasingly intentional about their discretionary snack purchases,” Campbell’s President and CEO Mick Beekhuizen said during a conference call with investors.
Beekhuizen said Campbell’s saw the highest level of meals cooked at home since early 2020 in its fiscal third quarter, which ended April 27. Campbell’s noted sales of its broths rose 15% during the quarter while sales of its Rao’s pasta sauces were up 2%.
But Campbell’s said sales of its snacks, including Goldfish crackers and Cape Cod potato chips, fell 4% during the quarter.
Other big companies, including McDonald’s, have also noted that Americans are increasingly eating at home as uncertainty over the economy grows. Grocery prices have also moderated. In 2024, prices for food eaten at home rose 1.2%, while prices for food away from home rose 4.1%, according to the U.S. Department of Agriculture.
Snack makers like PepsiCo, which makes Frito Lay chips, and General Mills, which makes Bugles chips and Golden Grahams, have also noted lower demand for snacks in recent quarters.
Campbell’s net sales rose 4% to $2.5 billion for the fiscal third quarter, which was in line with Wall Street’s expectations, according to analysts polled by FactSet.
U.S. sports betting is booming as NFL and college football fuel massive activity. BetMGM CEO Adam Greenblatt breaks down trends, growth, and what’s next.
President Donald Trump says a deal struck by Netflix last week to buy Warner Bros. Discovery “could be a problem” because of the size of the combined market share. The Republican president says he will be involved in the decision about whether federal regulators should approve the deal. Trump commented Sunday when he was asked about the deal as he walked the red carpet at the Kennedy Center Honors. The $72 billion deal would bring together two of the biggest players in television and film and potentially reshape the entertainment industry.
Disney's changes to a program for disabled visitors are facing challenges in federal court and through a shareholder proposal. The Disability Access Service program, which allows disabled visitors to skip long lines, was overhauled last year. Disney now mostly limits the program to those with developmental disabilities like autism who have difficulty waiting in lines. The changes have sparked criticism from some disability advocates. A shareholder proposal submitted by disability advocates calls for an independent review of Disney's disability policies. Disney plans to block this proposal, claiming it's misleading. It's the latest struggle by Disney to accommodate disabled visitors while stopping past abuses by some theme park guests.
With a merger this big, creators, studios, and theaters all face uncertain futures. Here’s what experts are worried about and what good could come from it.
With disengagement rising and hybrid work shifting, 'Everybody Matters' author Bob Chapman explains why treating people well could define the future of work.
We sat down with Ali Furman, U.S. Consumer Markets Industry Leader at consulting firm PwC to ask what trends she garnered from the initial data this year.
Seth Schachner breaks down Zootopia 2’s record-smashing debut, holiday box office trends, early 2026 Oscar contenders, and what’s next for Netflix and WBD.
