"The world's largest soup maker saw an 18 percent drop in ready-to-serve soup sales in the second quarter that ended Jan. 31. Campbell also reported flat sales in lower-priced condensed soup, but noted that trends were improving."
I'm not shocked at the 18% decline in RTE as GIS & CAG, as well as the generics have to be cutting into CPB share there. I am surprised Campbell's condensed biz is flat. Alot of the time Progresso & Healthy Choice ready-to-eat soups are priced LOWER than Campbell's condensed, and they include alot more "stuff" in them. Last time I was in a store, a can of CPB vegetable condensed was 50 cents HIGHER than a can of Progresso vegetable. If that keeps up, CPB will lose volume in condensed no matter how golden the Campbell brand name is. They seem to think they have pricing power due to their name. In this environment they don't.