![]() ![]() ![]() "The one-size-fits-all model that works in packaged food is harder to apply to newer, artisanal products, especially in the fresh aisles of the store." "Overall, we find the example of Garden Fresh Gourmet a bit of a cautionary tale that applies to Campbell and the rest of the industry," JPMorgan analyst Ken Goldman said in a research note this month. It has since come up with differentiated recipes and has been focusing on overcoming distribution challenges. The company tried to roll out the largely Midwestern salsa brand to other parts of the country but stumbled and missed distribution targets. Garden Fresh Gourmet, acquired in 2015, makes refrigerated salsas, dips, hummus and fresh soups. soup sales showed growth after recent declines. Last month, Campbell produced weaker fiscal second-quarter earnings and sales although its U.S. The stock was essentially flat Friday, after posting a gain on Thursday in the wake of a new $1.5 billion stock buyback program that was announced late Wednesday. Most stock analysts currently have Campbell rated a hold and forecast the company's earnings and sales to drop this fiscal year partly due to the fresh-segment woes.Ĭampbell shares have lagged the broad market and the S&P food-products index. Yet in doing so, Campbell increased its exposure to adverse weather, including such things as drought or heavy rain hurting crops. "What the company has done in recent years is try to make acquisitions in the faster-growing part of the supermarket," said Joe Agnese, an analyst at CFRA in New York. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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