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Campbell Soup sees boon in tight budgets
northjersey.com ^ | 11.23.08 | CHRIS BURRITT

Posted on 12/06/2008 8:17:23 PM PST by Coleus

Judging by Dayna Neumann's pantry, the latest U.S. recession may become a boon for the Campbell Soup Co., just as the last two economic contractions did. Neumann's family, in Louisville, Ky., is bracing "for a rough road ahead," says the 32-year-old working mother. After her 30-year-old husband, Nick, substituted $1.75 Campbell Chunky soup for restaurant lunches in September, she started buying as many as 15 cans at a time.

The appeal of a cheap meal may be good news for sales at the world's largest soup maker, which says it sells to 85 percent of U.S. households. Its shares have already become an outlier in these hard times, outperforming the other 11 companies in the Standard & Poor's Packaged Foods Index in the past three months. The recession will make 2009 "the year of condensed soup, driven by the backdrop of severe economic pressure on the consumer," wrote Mitchell Pinheiro, a Philadelphia-based analyst at Janney Montgomery Scott LLC. In its 139-year existence, Campbell Soup has survived 28 recessions, two world wars and the Great Depression. The Camden-based food giant may outdistance General Mills Inc., maker of Progresso soup, in shipments in 2009, says Terry Bivens, a JPMorgan Chase & Co. analyst in New York.

Campbell Soup is "acknowledged as a way to weather a recession," says Edgar Roesch, a Soleil Securities Corp. analyst in New York who rates the shares "buy." Campbell's U.S. soup sales accelerated by 6 percent in the fiscal 12 months ended July 2001, a period that included part a recession running from March through November of that year, according to the National Bureau of Economic Research in Cambridge, Mass. Soup sales rose 7 percent in the year ended July 1990 and 5 percent in the next 12 months, overlapping the contraction from July 1990 through March 1991.

As the economy becomes more sluggish in 2008, the company's soup sales in Wal-Mart Stores Inc. have climbed 12 percent to 14 percent since late August, according to Alton Stump, an analyst at Longbow Research in Independence, Ohio, who polled managers at 50 locations. He has a "neutral" rating on Campbell's stock. "There will not be a recession in eating," said Harry Balzer, who has studied U.S. eating habits for more than 30 years for NPD Group, a market research firm based in Port Washington, N.Y. "There will only be winners and losers."

Fifty-seven percent of households are serving leftovers for dinner, according to Balzer, versus a historic mean of 55 percent. U.S. workers took an average of 42 homemade meals to work in the 12 months through February, the most since 1995, he said. Campbell controls about 70 percent of the $5 billion-a-year U.S. soup market and is offering two-cans-for-$1 deals to maintain the lead.

Sales of the iconic red-and-white cans of condensed soup, which must be mixed with water, advanced 6 percent in the quarter ended Aug. 3, the company said. Ready-to-serve varieties increased 5 percent as Americans ate at home more, it said. Measured by shipments to retailers, Campbell's volume will increase an estimated 3.5 percent this year and 3.9 percent in 2009, said JPMorgan's Bivens. He projects decelerating shipments for General Mills, cereal maker Kellogg Co. and Sara Lee Corp., which sells Jimmy Dean sausages and frozen desserts.

Over the past five years, Campbell has lost ground to Progresso in sales of soup that's ready to eat from the can. To reverse that trend, Campbell Chief Executive Officer Douglas Conant spent $115 million on research and development in the last fiscal year, up 12 percent from the previous two. His increased investment led to the introduction of pop-top lids, microwavable soups and, more recently, varieties with less salt and fewer chemical additives. He declined to comment. The company has also recently published newspaper ads that say Progresso chicken noodle contains flavor enhancer monosodium glutamate while Campbell's Select Harvest doesn't.

"They've gone on the offensive in the ready-to-serve segment," said Roesch, the Soleil Securities analyst. "They've been waiting until they had a product that in some ways is superior." Jo-Lynne Shane in Philadelphia serves Campbell's Chicken & Stars soup to her three children and makes casseroles with Cream of Mushroom. The 36-year-old homemaker, who contributes to the Silicon Valley Moms blog that offers how-to-spend-less advice, stopped making chicken Marsala and other costly dishes after her husband, Paul, urged her to spend less on groceries. "My husband was bugging me to cut back," Shane said. "He said he could even stand tuna casserole once a month."


TOPICS: Business/Economy; US: New Jersey
KEYWORDS: camden; campbellsoup; nj
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1 posted on 12/06/2008 8:17:23 PM PST by Coleus
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To: Coleus

of course it is cheap.


2 posted on 12/06/2008 8:18:18 PM PST by television is just wrong
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To: Coleus

Interesting, not least because I was just doing some back-of-the-envelope what-if analysis on soup in my own food budget the other day. Concluded immediately that it’s a good gig or Campbell’s and their ilk.


3 posted on 12/06/2008 8:20:40 PM PST by the invisib1e hand (making full use of an unfair advantage in the marketplace of ideas)
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To: Coleus
"My husband was bugging me to cut back," Shane said. "He said he could even stand tuna casserole once a month."

One word: SPAM

4 posted on 12/06/2008 8:21:17 PM PST by 2banana (My common ground with terrorists - they want to die for islam and we want to kill them)
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To: Coleus
"There will not be a recession in eating,"

Let's hope not, champ.

5 posted on 12/06/2008 8:21:30 PM PST by the invisib1e hand (making full use of an unfair advantage in the marketplace of ideas)
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To: Coleus

People just don’t understand how badly America is getting screwed. It doesn’t have to be this way.


6 posted on 12/06/2008 8:22:26 PM PST by Extremely Extreme Extremist
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To: Coleus

The government should require Campbell’s to help bail out the auto industry!


7 posted on 12/06/2008 8:23:07 PM PST by Man50D (Fair Tax, you earn it, you keep it!)
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To: Coleus

My favorites are plain old Tomato and the Chicken w/Rice

Hot soup, some garlic bread, maybe some scrambled eggs... Good cold-weather winter grub.


8 posted on 12/06/2008 8:24:45 PM PST by djf (...heard about a couple livin in the USA, he said they traded in their baby for a Chevrolet...)
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To: Extremely Extreme Extremist

You mean massive financial manipulation and the destruction of banks due to CRA lawsuits by community organaizers and his moles making hundreds of millions at Fannie and Freddie? They then unleashed the virus into the bank system while their hedge funds buddings (naked shorting and buy credit default swaps) went down the list wiping out company after company. Followed by a crescendo to hit in October.

The people at Enron and Worldcom did far less than O’s cronies did at Fannie & Freddie plus Rubin at Citi.

This is a coup.


9 posted on 12/06/2008 8:26:05 PM PST by Frantzie
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To: djf

sounds good to me.. I like the chicken noodle the best, next is chicken with rice.


10 posted on 12/06/2008 8:26:35 PM PST by Coleus (Abortion and Physician-assisted Murder (aka-Euthanasia), Don't Democrats just kill ya?)
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To: djf

Tomato made with milk, yum.

Sometimes with half a tuna salad sandwich and some Fritos.


11 posted on 12/06/2008 8:31:18 PM PST by donna (Sarah Palin: A Feminist, not a Conservative.)
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To: Coleus

LOL! I’ve had it twice this week.


12 posted on 12/06/2008 8:32:16 PM PST by DCPatriot ("It aint what you don't know that kills you. It's what you know that aint so" Theodore Sturgeon))
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To: Coleus

During the summer I eat a lot lighter - more salads, fresh fruits, juice, ice tea with honey.

But during the winter, when it’s cold and damp/snowy, I load up on carbs. Pastas, soups, pizzas, etc.

Almost time for me to get ready to make lasagna. We’re talking major planning and work here, cause I never make fewer than 3 lasagnas at once, and usually five or six!


13 posted on 12/06/2008 8:32:55 PM PST by djf (...heard about a couple livin in the USA, he said they traded in their baby for a Chevrolet...)
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To: Coleus

Yummmmmm.

14 posted on 12/06/2008 8:33:55 PM PST by martin_fierro (< |:)~)
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To: DCPatriot

it’s great stuff, made with NJ water!


15 posted on 12/06/2008 8:35:02 PM PST by Coleus (Abortion and Physician-assisted Murder (aka-Euthanasia), Don't Democrats just kill ya?)
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To: Coleus

If Campbell sees a boom, imagine how well Purina is going to do! Mmmmmmm.... dog food!


16 posted on 12/06/2008 8:35:06 PM PST by Revolting cat! (Everytime they open their mouth they shoot themselves in the foot.)
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To: donna

Last night I was ‘forced’ to use Pringles Salt and Vinegar Potato Chips with the Tomato soup.

Now I’m hungry.....lol


17 posted on 12/06/2008 8:35:38 PM PST by DCPatriot ("It aint what you don't know that kills you. It's what you know that aint so" Theodore Sturgeon))
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To: Coleus

Did you have to tell me that? grrrrr.....


18 posted on 12/06/2008 8:36:48 PM PST by DCPatriot ("It aint what you don't know that kills you. It's what you know that aint so" Theodore Sturgeon))
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To: Coleus

Beautiful Soup, so rich and green,
Waiting in a hot tureen!
Who for such dainties would not stoop?
Soup of the evening, beautiful Soup!
Soup of the evening, beautiful Soup!

Beau—ootiful Soo—oop!
Beau—ootiful Soo—oop
Soo—oop of the e—e—evening,
Beautiful, beautiful Soup!

Beautiful Soup! Who cares for fish,
Game or any other dish?
Who would not give all else for two p
ennyworth only of Beautiful Soup?
Pennyworth only of beautiful Soup?

Beau—ootiful Soo—oop!
Beau—ootiful Soo—oop!
Soo—oop of the e—e—evening,
Beautiful, beauti—FUL SOUP!

Alice’s Adventures in Wonderland by Lewis Carroll


19 posted on 12/06/2008 8:38:32 PM PST by SmokingJoe
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To: DCPatriot

Did you have to tell me that? grrrrr..... >>

why do you think it’s yellow?


20 posted on 12/06/2008 8:41:26 PM PST by Coleus (Abortion and Physician-assisted Murder (aka-Euthanasia), Don't Democrats just kill ya?)
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To: DCPatriot
Last night I was ‘forced’ to use Pringles Salt and Vinegar Potato Chips with the Tomato soup.

What, no Cheez-its ?

21 posted on 12/06/2008 8:43:32 PM PST by TheCipher
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To: djf
We’re talking major planning and work here, cause I never make fewer than 3 lasagnas at once, and usually five or six!

AHHHHHHH.........someone else who cooks like me!!!!

22 posted on 12/06/2008 8:43:44 PM PST by Gabz (Is a sarcasm tag really needed?)
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To: Coleus
Actually, speaking from experience, and you oughta try it sometime, the can and the label wrapping tast better than the can contents!


23 posted on 12/06/2008 8:44:03 PM PST by Revolting cat! (Everytime they open their mouth they shoot themselves in the foot.)
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To: Coleus

Progresso soup is 8/$10 at my local little grocery store.

Time to stock up at a $12.00 savings.

Campbell’s is good, but I prefer Progresso and can afford it at this sale price.


24 posted on 12/06/2008 8:46:33 PM PST by mplsconservative
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To: djf
It is against the law to eat tomato soup without a peanut butter sandwich.
25 posted on 12/06/2008 8:48:49 PM PST by org.whodat (Conservatives don't vote for Bailouts for Super-Rich Bankers! Republicans do!)
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To: djf

Can’t eat tomato. Tastes like watered down catsup. Chicken w/rice is somewhat more tolerable, once thought rather highly of chicken gumbo. Scotch broth is pretty good and split pea is a quick substitute for the real thing (mummy’s), but so many of those soups have sugar and preservatives or some garlicky stuff that leaves a yucky after taste. Nevertheless, after a childhood with a thermos of that crap, I still like the concept of soup that comes out of a can. Just wish the stuff would have more of a home-made taste, which would probably mean twice as much fat and salt.


26 posted on 12/06/2008 8:50:18 PM PST by dr_who
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To: mplsconservative

Crock pot and internet recipes. Much better.


27 posted on 12/06/2008 8:51:32 PM PST by dr_who
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To: Coleus

I always buy the store brand soup because it is so much cheaper, but, I love Campbell’s Chunky soups. I have noticed lately that the chunky soups aren’t as chunky.


28 posted on 12/06/2008 8:53:24 PM PST by peggybac (Tolerance is the virtue of believing in nothing)
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To: dr_who

Well, you don’t have to mix it one to one with water. And usually I will toss in some fresh spinach leaves, or maybe half a chopped up onion. Toss in some bacon bits! Use your imagination!


29 posted on 12/06/2008 8:53:57 PM PST by djf (...heard about a couple livin in the USA, he said they traded in their baby for a Chevrolet...)
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To: Frantzie
They then unleashed the virus into the bank system while their hedge funds buddings (naked shorting and buy credit default swaps) went down the list wiping out company after company.

Thought this tread was about soup and good old American spam. But you bring up a blackheilcopter crazy conspericy theory story!!! LOL

30 posted on 12/06/2008 8:54:52 PM PST by org.whodat (Conservatives don't vote for Bailouts for Super-Rich Bankers! Republicans do!)
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To: Coleus

I like Campbell’s soup, but of course they would be selling lots of their soup since August (meaning cooler weather from fall into winter).

Their Tomato Bisque is great, by the way, for any tomato soup lovers who’d like a little twist.


31 posted on 12/06/2008 8:55:33 PM PST by KJC1
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To: djf

My point is that if you use a crock pot with fresh ingredients, you get a lot more soup for less moolah. Fresh ingredients tend to be cheaper, and if you like adding your own ingredients to taste, it isn’t too much trouble to start from scratch and get an infinitely better soup.


32 posted on 12/06/2008 9:02:24 PM PST by dr_who
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To: Coleus

Some of the store brands are even cheaper and taste pretty good.


33 posted on 12/06/2008 9:03:50 PM PST by Dallas59 (Not My President)
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To: Gabz
Starting the ingredients...


The sauce


Filling the pans...


3 or 4 hours later



Dam I just et and now I'm hungry again!!
34 posted on 12/06/2008 9:04:37 PM PST by djf (...heard about a couple livin in the USA, he said they traded in their baby for a Chevrolet...)
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To: Coleus

I love soup... so much so that I often buy a 5 lb roasting chicken and some drum sticks/wings, carrots, celery, turnips, onions (yellow and white), parsley, salt and pepper... add water + 5 hours of simmering, then straining and de-bone the carcus = meals that will satisfy Trajan88 for days... add bread and butter and big glasses of milk and I’m golden... platinum ;-)


35 posted on 12/06/2008 9:09:14 PM PST by Trajan88 (www.bullittclub.com)
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To: dr_who

I agree. I make a lot of homemade soups, but I like to have a convenient backup on hand. Progresso split pea soup and a grilled cheese made a good lunch today when putting up the Christmas tree today. Zero degree windchill will do that to you.

We get a shank end ham for Christmas and I love making my own homemade split pea soup and other goodies from the leftovers. You and I are on the same page. :)


36 posted on 12/06/2008 9:11:11 PM PST by mplsconservative
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To: Trajan88
that sounds like what I make, but I use chicken wings... i also add a little basil and oregano and use pennsylvania dutch fine noodles.
37 posted on 12/06/2008 9:12:23 PM PST by Coleus (Abortion and Physician-assisted Murder (aka-Euthanasia), Don't Democrats just kill ya?)
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To: djf

Those aren’t PANS of lasagne -— those are servings!!!!!!!

The 8 inch square pan is the smallest I make. When I make lasagna there are, at minimum, four 9x13 pans and then anywhere from 2 to 6 of the 8x8s.

I won’t be making any again until mid to late January because I have 2 left in the freezer, along with 7 dozen tamales and 5 quarts of ham broth. Next week I will be adding 8-10 quarts of turkey broth to that stock pile.


38 posted on 12/06/2008 9:17:36 PM PST by Gabz (Is a sarcasm tag really needed?)
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To: All
What about Progresso Soups? Are they any good?
 
progresso-chickarina-soup.jpg

39 posted on 12/06/2008 9:22:49 PM PST by Coleus (Abortion and Physician-assisted Murder (aka-Euthanasia), Don't Democrats just kill ya?)
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To: Coleus
Inquiring minds: what are PA dutch fine noodles?

I usually use fettucine noodles... I break them into ~1" pieces... sometimes I use egg noodles.

40 posted on 12/06/2008 9:23:01 PM PST by Trajan88 (www.bullittclub.com)
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To: Gabz

Well, eat what ya got before you make more. I’m not even sure if I have room in my freezer, because I usually leave one in the fridge I can eat off of and freeze the rest.


41 posted on 12/06/2008 9:23:05 PM PST by djf (...heard about a couple livin in the USA, he said they traded in their baby for a Chevrolet...)
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To: mplsconservative

I’ll buy a shank end ham, just for making soup! Just kidding. But when I find it on sale I buy it and cut it up. I take off as much as I can for ham “steaks,” cube the rest and use the meaty bone for broth for all kinds of bean soups -— except split pea or lentil. They both turn me off, and the funny thing is those were the only kind of homemade soups I ever even knew about when I was a kid.

In my parents’ house soup meant a can of Campbell’s chicken noodle or tomato. Cream of mushroom was used for cooking not eating.

My husband doesn’t particularly care for Campbell soups, he prefers Progresso, but he knows that if I’m sick and say I want chicken soup he better be giving me Campbell’s if we don’t have any of mine (or he doesn’t feel like defrosting some)


42 posted on 12/06/2008 9:26:44 PM PST by Gabz (Is a sarcasm tag really needed?)
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To: Trajan88
yep, egg noodles, I like the thin ones for soup.
 

43 posted on 12/06/2008 9:27:03 PM PST by Coleus (Abortion and Physician-assisted Murder (aka-Euthanasia), Don't Democrats just kill ya?)
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To: Coleus

Progresso’s ok, but I still usually have Campbells.

You can use it as it comes, or jazz it up with whatever veggies you might have around. And I almost always have celery, carrots, spinach, etc.


44 posted on 12/06/2008 9:28:18 PM PST by djf (...heard about a couple livin in the USA, he said they traded in their baby for a Chevrolet...)
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To: djf
My favorites are plain old Tomato and the Chicken w/Rice

Mmmmm! Good old tomato, use only 1/2 can of water, and a grilled cheese sandwich.

45 posted on 12/06/2008 9:29:03 PM PST by barker (Sarah Palin 2012? You betcha.)
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To: djf

Campbell’s Tomato soup made with milk and pretzels thrown in the soup like you would crackers. Delicious full meal!


46 posted on 12/06/2008 9:29:11 PM PST by 4Godsoloved..Hegave
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To: djf

I was just kidding with you. Not about how much I make, but how much you make.

I just like to cook and if I’m going to go to all the time and effort of something like lasagne, or tamales, or soup, I might just as well make it worth all the time and effort so that I have it on hand when I don’t feel like going through all the time and effort.

If that wasn’t a run on sentence, I don’t know what one is. LOL!!!

And on that note I’m gonna go grab a PB&J and call it a night.

You all have a good one and I will check back in the morning!


47 posted on 12/06/2008 9:32:22 PM PST by Gabz (Is a sarcasm tag really needed?)
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To: barker

Well the other one no ones mentioned is their Bean With Bacon soup.

Which is also pretty good if you just want something quick and filling! Coarse I usually add half a teaspoon of black pepper to it.


48 posted on 12/06/2008 9:37:23 PM PST by djf (...heard about a couple livin in the USA, he said they traded in their baby for a Chevrolet...)
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To: djf

No veggie beef fans around here?

http://secretrecipes.blogspot.com/2008/03/campbells-vegetable-beef-soup-recipe.html


49 posted on 12/06/2008 9:47:54 PM PST by Kryptonite (Keep Democrats Out of Power!)
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To: Gabz

I think the gelatinous aspect of the shank bone gives a slightly ‘slimy’(?) texture to split pea soup. That’s what I love though. LOL

Most of our ham goes into scalloped ham and potatoes with a generous melt of brown and bubbly Velveeta on top. Yum! Comfort food extraordinaire!


50 posted on 12/06/2008 9:48:35 PM PST by mplsconservative
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