JPMorgan said the implied forecast for the fourth quarter is “conservative,” but maintain their neutral stock rating and move their price target up $1 to $53. Campbell's Soup, the Camden, New Jersey-based canned food maker, has seen its products fly off the shelves in recent weeks thanks to the panic induced by … The COVID-19 situation continues to evolve rapidly, and it remains top of mind for our employees. Campbell Soup is ordering more ingredients to ensure it can keep enough soups, sauces and snacks on hand to meet growing demand from retailers as U.S. consumers hoard food in preparation for potential coronavirus quarantines. Cream of Asparagus Soup Campbell's® Condensed Cream of Asparagus Soup is a delicately seasoned soup made with tender asparagus and fresh cream. Read:More consumers are willing to head to stores than to dine out at restaurants, S&P Global finds. “The relevance of certain center-store categories like soup will likely increase and require more in-store inventory, with perhaps a more limited assortment to optimize shelf sets for in-store and online click-and-collect demand,” said Clouse. Of course those are precisely some of the key items that preppers tend to stock up on. We are no longer accepting comments on this article. Shoppers filled their grocery baskets with Campbell Soup Co. products, from canned soup to snacks, which drove blowout fiscal third-quarter earnings, but also posed inventory challenges. She also worked at Mediabistro, and previously handled media relations for MSLGroup’s consumer practice. Rating: 100 % of 100 (2) Campbell's® Soup Can String Lights . Campbell's stock has gained about 24 per cent since late 2018 when Clouse was hired to turn the company around. More consumers are willing to head to stores than to dine out at restaurants, S&P Global finds, High unemployment rates will continue to drive budget-conscious consumers to Dollar General, Dollar Tree & Family Dollar, Hormel says the value of products like Spam and Skippy peanut butter rose alongside unemployment rate, Nxt-ID's stock rockets toward back-to-back record gains, on massive volume, Microsoft was breached in SolarWinds cyberattack, in what one exec calls ‘a moment of reckoning’, FedEx clears $20 billion in quarterly sales for first time, earnings double as COVID-19 juices shipments, Stock market briefly hits records as Wall Street kicks off trade in quadruple-witching Friday; Tesla set to enter the S&P 500, This cult Kentucky bourbon costs $1,000, and there are fewer than 800 bottles available, Here’s why bets on Apple, Tesla, Zillow and other tech names will pay off in 2021, says this analyst. “We did see pressure on share, which although never a good thing, we believe reflects challenges in availability rather than conscious consumer switching,” said Mark Clouse, Campbell chief executive, in pre-recorded earnings comments, during a discussion of the soup business. For generations, people have trusted Campbell's Soup to provide authentic, flavorful and readily available soups, meals, and recipes. I think this is the key to improving most varieties condensed soups. Pepperidge Farm's parent company Campbell Soup has issued a warning that due to “supply constraints” there may be a shortage of their cookies on store shelves this holiday season. The 150-year-old company has been working to revitalize its canned soup business, rolling out new recipes, eliminating preservatives and ramping up marketing to lure back health-conscious customers. The comments below have not been moderated. Some worry supply chains could be strained and store shelves of major retailers such as Walmart and Kroger. -0.21% -1.48 -3.07% A U.S. cookie shortage could leave Santa’s plate bare. Campbell’s shares have slipped 1.3% for the year to date while the S&P 500 index The outbreak has killed more than 3,000 people globally and is in nearly 80 countries and territories. Add to Cart. “First, the company’s soup manufacturing is spread out more evenly throughout the year than its consumption (in June, e.g., product is already being made for customers’ fall push),” analysts wrote. Part of the Daily Mail, The Mail on Sunday & Metro Media Group. By Ariel Zilber For Dailymail.com and Reuters, Published: 02:28 GMT, 6 March 2020 | Updated: 13:04 GMT, 6 March 2020. Campbell's® Soup Coupon Sorter. Snacks were up 9%. Earlier today, the Campbell Soup Company issued an immediate recall on 12 million cans of soup after it was discovered that they needed a touch more salt to really bring out the flavor. Girl aged just TEN gives birth after being raped in Colombia. And:Hormel says the value of products like Spam and Skippy peanut butter rose alongside unemployment rate. Campbell’s now expects sales to rise 5.5% to 6.5%, compared with previous guidance for a 1% sales decline to a 1% increase. The Campbell Soup, the maker of its namesake canned soups as well as crackers, cookies, and other dry goods, has seen its sales rebound in the last few weeks. Add to Cart. Campbell's Classic Chicken Noodle Soup. Tesla is about to join the S&P 500. US could approve Moderna's Covid vaccine 'within hours'... but UK won't get any of the 7million doses it has... Welsh first minister Mark Drakeford blames people's 'selfish' behaviour for forcing fresh lockdown as he... Are hospitals REALLY creaking under the strain of Covid before Christmas? It’s the perfect low-fat ingredient for family-pleasing recipes. Campbell’s CEO Mark Clouse said cookies under the Pepperidge Farms brand, such as Milano and Chessman, face “supply constraints” due to the virus pandemic forcing people to stay home, which in return has driven up demand. 'We're working very closely with folks to make sure that we keep them in stock,' Clouse said, adding that 'honestly before this weekend we had not seen much' higher demand. “With in-market consumption surges as high as 140%, we significantly depleted inventory in the initial stages of the pandemic.”. According to the Wall Street Journal, some of the biggest food manufacturers in America are admitting that there are nationwide shortages of “flour, canned soup, pasta and rice”… Grocers are having trouble staying stocked with goods from flour to soups as climbing coronavirus case numbers and continued lockdowns pressure production and bolster customer demand. CAMDEN, N.J. — Weak demand for soup and V8 beverages and a carrot shortage contributed to a disappointing quarter for the Campbell Soup Co. Net earnings in … UBS analysts also think the guidance could be conservative. The Optimist 1,000 Piece Puzzle. We apologize for any inconvenience this may cause you.' While … Campbell’s There are blunders, and then there’s this. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline.   reported earnings and sales that exceeded FactSet expectations, and raised its full-year guidance at a time when many companies are pulling their financial outlook all together due to the uncertainty from the coronavirus pandemic. We know that in times like these, our retailers, consumers and communities depend on us for something critically important: the food in their homes. US retailer Target Corp said on Tuesday it was seeing a surge in store traffic due to the virus. Its stock price at the close will determine its weighting, and how many shares funds that track the index will have to buy on Monday. There were also problems keeping Goldfish brand snacks and some baked items in stock. Lead Here's Why Everyone Suddenly Thinks There's a National Shortage of Dish Soap 'These shortages will remain until Dec. 1. “And second, because of pantry stuffing, retailers are short on inventory right now and trying to rebuild stocks ASAP. Campbell Soup is increasing production in certain areas to address demand for its soup amid the coronavirus outbreak. Capacity constraints should be less in 4Q than in 3Q, but we do not think they fully clear up until FY21.”. According to the Wall Street Journal, some of the biggest food manufacturers in America are admitting that there are nationwide shortages of “flour, canned soup, pasta and rice”… Grocers are having trouble staying stocked with goods from flour to soups as climbing coronavirus case numbers and continued lockdowns pressure production and bolster customer demand. “Investors appear more focused on FY21 than FQ4, with many finding the forward 12-month event path less compelling as Campbell’s laps COVID benefits in its highest margin category,” analysts led by Steven Strycula wrote. SPX, This is perfect to be used as a secret ingredient for your next family-pleasing dinner. About to join the s & P 500 ingredient for family-pleasing recipes Skippy peanut butter rose unemployment! She also worked at Mediabistro, and it remains top of mind for our employees can not their! Message if the product and zip code, you will see a message if the product is discontinued remains of... 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