Campbell to Provide Overview of Industry Forces, Company Strategy at CAGNY Conference

CAMDEN, N.J.--()--Campbell Soup Company (NYSE:CPB) President and Chief Executive Officer Denise Morrison and Senior Vice President and Chief Financial Officer Anthony DiSilvestro will provide an overview of the company’s strategic direction at 10:30 a.m. EST today at the Consumer Analyst Group of New York (CAGNY) Conference in Boca Raton, Fla. Campbell’s presentations will be webcast live at investor.campbellsoupcompany.com.

Morrison will share her perspective on consumers and the food industry, and provide an update on the actions Campbell is taking to deliver sustainable, profitable growth while improving returns for shareholders. She will highlight the company’s progress on its four strategic imperatives:

  1. Purpose and Transparency: In an effort to set the standard for transparency in the food industry, Campbell launched www.whatsinmyfood.com to share more information with consumers about its food. Morrison will also discuss Campbell’s support for comprehensive federal legislation to establish a mandatory national standard for GMO labeling.
  2. Health and Well-being: Campbell is pursuing innovation to deliver growth across health and well-being, including the perimeter and the center store. Morrison will outline the growing appeal of fresh and better-for-you foods that led to the creation of the Campbell Fresh division.
  3. Developing Markets: Morrison will discuss Campbell’s commitment to increase its footprint in faster-growing geographies despite short-term dislocations, with a priority focus on Asia through its Global Biscuits and Snacks division.
  4. Digital Marketing and e-commerce Expansion: The company expects digital media to increase to about 40 percent of its total marketing spend in fiscal 2016. Morrison will discuss Campbell’s efforts to build its e-commerce capabilities in China.

DiSilvestro will provide an update on the company’s redesigned organization structure, including its three divisions, and its cost savings initiative, which leverages zero-based budgeting. Campbell’s divisions – Americas Simple Meals and Beverages, Global Biscuits and Snacks, and Campbell Fresh – have clearly defined roles within the company’s enterprise strategy. Its three-year cost savings initiative is delivering better-than-expected benefits and, as a result, the savings target has been increased from $250 million to $300 million. Over time, cost savings will provide investment funding for growth and margin expansion. The creation of the Integrated Global Services organization has more effectively and efficiently provided shared services to the divisions.

“These actions have had a positive impact on our costs and, over time, will contribute to changes in our culture,” said Morrison. “As a result, we’re now far better positioned to live our purpose, execute our strategic imperatives and have greater flexibility to invest in longer-term innovation models.”

Today’s presentation will be archived on investor.campbellsoupcompany.com and available for replay later today.

About Campbell Soup Company

Campbell (NYSE:CPB) is driven and inspired by our Purpose, “Real food that matters for life’s moments.” We make a range of high-quality soups and simple meals, beverages, snacks and packaged fresh foods. For generations, people have trusted Campbell to provide authentic, flavorful and readily available foods and beverages that connect them to each other, to warm memories and to what’s important today. Led by our iconic Campbell’s brand, our portfolio includes Pepperidge Farm, Bolthouse Farms, Arnott’s, V8, Swanson, Pace, Prego, Plum, Royal Dansk, Kjeldsens and Garden Fresh Gourmet. Founded in 1869, Campbell has a heritage of giving back and acting as a good steward of the planet’s natural resources. The company is a member of the Standard & Poor’s 500 and the Dow Jones Sustainability Indexes. For more information, visit www.campbellsoupcompany.com or follow company news on Twitter via @CampbellSoupCo. To learn more about how we make our food and the choices behind the ingredients we use, visit www.whatsinmyfood.com.

Forward-Looking Statements

This release contains “forward-looking statements” that reflect the company’s current expectations about the impact of its future plans and performance on the company’s business or financial results. These forward-looking statements include statements made regarding the company’s marketing strategies and its new enterprise structure and cost reduction initiative. Forward-looking statements rely on a number of assumptions and estimates that could be inaccurate and which are subject to risks and uncertainties. The factors that could cause the company’s actual results to vary materially from those anticipated or expressed in any forward-looking statement include (1) the company’s ability to manage organizational change effectively; (2) the company’s ability to realize projected benefits and cost savings from the new structure; (3) the impact of strong competitive responses to the company’s marketing strategies and its efforts to leverage its brand power in the market; (4) the impact of changes in consumer demand for the company’s products; (5) the risks associated with trade and consumer acceptance of the company’s initiatives, including its trade and promotional programs; (6) the practices and increased significance of certain of the company’s key trade customers; (7) the impact of fluctuations in the supply or costs of energy and raw and packaging materials; (8) the impact of portfolio changes; (9) the uncertainties of litigation; (10) the impact of changes in currency exchange rates, tax rates, interest rates, debt and equity markets, inflation rates, economic conditions and other external factors; (11) the impact of unforeseen business disruptions in one or more of the company’s markets due to political instability, civil disobedience, armed hostilities, natural disasters or other calamities; and (12) other factors described in the company’s most recent Form 10-K and subsequent Securities and Exchange Commission filings. The company disclaims any obligation or intent to update the forward-looking statements in order to reflect events or circumstances after the date of this release.

Contacts

Campbell Soup Company
INVESTOR CONTACT:
Ken Gosnell, 856-342-6081
ken_gosnell@campbellsoup.com
or
MEDIA CONTACT:
Carla Burigatto, 856-342-3737
carla_burigatto@campbellsoup.com

Contacts

Campbell Soup Company
INVESTOR CONTACT:
Ken Gosnell, 856-342-6081
ken_gosnell@campbellsoup.com
or
MEDIA CONTACT:
Carla Burigatto, 856-342-3737
carla_burigatto@campbellsoup.com