General Mills, Inc. (GIS) recently introduced six new flavors of Progresso ready-to-eat soups. The new creamy and spicy flavors are adding to the varieties of New Vegetable Classics and Light and Traditional Soup flavors. Including the new flavors, Progresso offers more than 90 flavors, to cater to various preferences of the consumers.
General Mills introduced two new Vegetable Classic flavors: Tuscan-Style White Bean and Southwestern-Style Corn with Potatoes & Peppers. The introduction of these new flavors targets health conscious customers who intend to increase their intake of vegetables.
The two new Progresso Light flavors -- Creamy Chicken Alfredo with Pasta and Light Savory Beef Barley Vegetable -- contain no artificial flavors or added Monosodium glutamate (‘MSG’). Progresso Light soups appeal to consumers who try to control their calorie intake and are the only light soup recommended by Weight Watchers International, Inc. (WTW).
The two new flavors in the Progresso Traditional Soups category include Traditional Creamy Roasted Chicken with Herb Dumplings and Creamy Tomato with Bacon and Cheese. These soups taste like the homemade ones and contain no artificial flavors or added MSG.
Progresso ready-to-eat soup is one of the most popular brands of General Mills. The introduction of new flavors of Progresso soups is in line with the company’s strategy of maintaining a steady pipeline of products to boost sales momentum and capture market share.
General Mills also focuses on increasing the nutritional value of packaged food with more fruits, vegetables and fiber and less fat. The idea is to appeal to the growing numbers of health-conscious customers who prefer the convenience of packaged food without compromising on health. The company’s continuous efforts to introduce new products in the fast growing food categories bode well for long-term growth.
General Mills carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the packaged goods sector include Treehouse Foods, Inc. (THS) and Pinnacle Foods Inc. (PF). While Treehouse Foods sports a Zacks Rank #1 (Strong Buy), Pinnacle Foods holds a Zacks Rank #2 (Buy).