Campbell Soup’s president and CEO Denise Morrison reported ‘below expectation’ earnings for Q2 2018, but noted steps into healthy snacking space will ‘lead to improved performance’.
Campbell Soup could take share from Kellogg in the US convenience channel after acquiring Snyder’s-Lance, as the cereal giant is abandoning the direct store delivery (DSD) model for its entire snacks division, said Euromonitor analyst Jared Koerten.
The bakery and snacks industries saw a year of significant development beset with scandals, lawsuits and momentous personnel changes, but also crammed with promising deals, innovation and commitments.
Snyder’s-Lance subsidiary Princeton Vanguard and PepsiCo’s Frito-Lay have once again faced off in court over a dispute whether the phrase ‘Pretzel Crisps’ can be registered as a trademark.
Quri’s latest data shows that Lay’s, Ruffles and Pringles dominate the share of display at Walmart stores across the US, but there is still room for other snack products.
The CEO of Kettle Chips maker Snyder’s Lance says he is ‘not satisfied’ with the company’s H1 2017 performance despite a 3% revenue increase in the second quarter.
Snyder’s-Lance has announced a restructuring plan to drive down costs and complexities, which includes closing its Florida chips plant and retrenching 250 employees.
Snyder’s-Lance will discontinue some of its snack varieties that are expected to only drive a small percentage of the company’s revenues in 2018, CFO Alex Pease said.
Mondelēz’s Teddy Soft Bakes and tortilla chips producer Hain Celestial will be among the 40 plus brands attending Snack Attack 2017 being held in New York City on July 27.
