Campbell Reports First Quarter Results.
CAMDEN, N.J. Campbell Soup Co. on Monday reported earnings from continuing operations for the quarter ended Oct. 28 of $270 million, compared to $269 million in the prior year. Earnings per share from continuing operations for the current quarter were 70 cents, compared to 66 cents in the year-ago period, an increase of 6 percent, reflecting a lower average number of diluted shares outstanding, due to the company’s share repurchase programs.
Sales for U.S. soup, sauces and beverages were $1.097 billion, an increase of 4 percent compared to a year ago, whereas sales for baking and snacking were $532 million, up 10 percent from a year ago.
“We are pleased with the performance of many businesses in our portfolio, including the strong top line growth in our baking and snacking business and our U.S. beverage business, which continued its strong growth trend,” Douglas Conant, Campbell’s president and chief executive officer, said.
The company expects its continuing operations to deliver sales growth in excess of its long-term target range of between 3 and 4 percent.
Emerald snack food brand wins award
STOCKTON, Calif. Diamond foods’ Emerald brand has received a prestigious award for its product innovation, creativity in merchandising, marketing, promotion and consumer insights during 2007.
Progressive Grocer magazine honored Emerald with a Category Advisor award in the Salty Snacks category. This award is bestowed on companies with outstanding products, marketing and sales in their respective categories. Companies were judged in the areas of innovation, ability to successfully introduce new products, merchandising and promotional strategies. Other criteria included quantitative and qualitative evidence of the positive results of their efforts, both for retailers and the total category as a whole.
The current ad campaign, which included a Super Bowl spot, advertized Emerald almonds as an antidote to sleepiness, and featured the late Robert Goulet. “We’re honored to receive this award for the second year in a row,” said Andrew Burke, senior vice president of marketing, Diamond Foods. “We’re committed to partnering with retailers to drive innovation and category growth in the Snack Nut category behind the Emerald brand.”
Hershey’s Arline to retire after 26 years
HERSHEY, Pa. Hershey Co. senior vice president and chief people officer, Marcella Arline, announced she will be retiring after 26 years of service, the company said Friday.
Arline will continue in her role during the transition to assist David J. West, President; the management team; and the board of directors.
“Throughout her career, Marcella has shown an unmatched dedication to the community, the company and, most importantly, the people of Hershey,” said Richard Lenny, chairman and chief executive officer. “Her leadership has had a tremendous impact across the company, in manufacturing, quality and regulatory compliance and human resources. Marcella has led the development of our employees and leaders and has been instrumental in building our superior organization. Her energy, judgment and commitment will be greatly missed.”
Arline considered retiring under the company’s 2005 early retirement plan. She agreed to remain with the company to help lead several initiatives, including Hershey’s global expansion, recruitment and leadership development, and planning and implementation of the Global Supply Chain Transformation.
Arline was appointed to be the company’s senior vice president and chief people officer in 2004 and was responsible for human resources, corporate communications, compensation, benefits, security, flight operations and facilities management for the Corporation.