Campbell’s Tries to Put More Zip in Soup Sales

Campbell Soup Co. is expected to unveil plans this week aimed at reviving the soup giant’s sluggish sales.

Douglas R. Conant, Campbell’s president and chief executive officer, is expected to make the announcement Friday.

Conant has declined to reveal specifics of the plans, but told the Courier-Post of Cherry Hill, N.J., in Sunday’s editions, “We’re the largest soup maker in the world, and we’re in trouble. We have to take action.”

The plans come on the heels of an overhaul announced in April, when the company announced it was splitting its North American division into two units--one for soup, the other for drinks, sauces and prepared foods.

Camden, N.J.-based Campbell has struggled in recent years, its stock sliding from a high of $60 a share in 1998 to a low of $23.75 last September. Campbell stock closed Friday at $28.50 on the New York Stock Exchange.

Conant, who in January replaced Dale Morrison, has said reviving its North American soup business is a top priority.

Campbell’s share of the U.S. wet-soup market has fallen from 75% in 1995 to just under 70% this year.