campbell soup

Fortune Staff

The Fortune 500, in its 69th year in 2023, ranks the biggest U.S. companies by revenue.

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Founded in 1869, this Camden, N.J. food company is best known for its iconic canned soups—but its product portfolio also includes the brands V8, Swanson, Pepp

Campbell Soup | 2023 Fortune 500

legacy

Campbell Soup

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Campbell Soup | 2023 Fortune 500 | Fortune

Kristen Bellstrom

Emma Hinchliffe

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Beth Kowitt

For Campbell Soup, Fresh Foods Prove a Struggle

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Lucas Laursen

Why Campbell Soup Is Selling Its ‘Fresh’ Business

/2018/08/30/campbell-soup-fresh-sale/

Grace Dobush

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Denise, more and more consumers want fresh food, organic, gluten free, no preservatives, how are you catering to them ?>> It's inspired us to acquire Bolthouse Farms. We're the leading Fresh carrot producer, also super premium juices and salad dressings. We just bought Garden Fresh Gourmet, which is a fresh hummus and salsa business. Very exciting, and Plum organic baby foods. So We believe that it's an opportunity for Campbell's to participate in those preferences .>> But for all those changes that you've made at Campbell's Soup, you have said that consumers still have a " distrust of so- called big food ." What can you do to change that? I believe that trust starts with transparency and consumers today want to know what's in my food, how is it grown, how safe is it, and that it's made with quality and a high standard. In fact, we just have initiated a website whatsinmyfood. com Where consumers can go to that website and click on our Campbell's products and get the answers to those questions. Is it making a difference? So well, early days, but we're encouraged by the response we've gotten so far. What is your prediction about what food we're gonna be eating, the American consumer, in let's say five years? What kind of foods are we gonna be eating and not eating? well I don't think it's a one size fits all. I think that people need to understand what works for them, and adapt to it. But I believe that the big change for my company is going to be to make sure that we are providing a fresh And shelf stable, affordable, accessible, nutritious and delicious food. And what does this all mean for the grocery store of the future where the middle aisles have all of those sweet and sugary things that we love to eat but aren't necessarily good for us? Well, I believe that the center store will stay play a role and, and so will the perimeter. The brands that we have if you really think about them, work well with both. In other words, our Swanson broth is typically consumed with meat or vegetables. And can make affordable meals for people. And so I do think that what will happen is consumers will continue to demand more choices and companies are going to have to deliver on that, and we are up to that challenge. [ BLANK_AUDIO ]

CEO Denise Morrison sits down with Fortune's Susie Gharib to talk about the company’s new website and its role in building consumer confidence.

Here’s how Campbell Soup is repositioning ‘healthy’

Leadership

CEO Morrison on building consumer confidence.

Denise let's talk a little bit about the economy. There is a lot of nervousness about the possibilities of a recession, whether it's globally or here in the U. S. Do you see a recession coming? I don't see a recession coming I think that we are We are gradually recovering and I think theres fits and starts to that. But I do believe what I do see coming is disruption and in disruption comes opportunity and there's economic opportunity there. So I'm maybe more of an optimist. Are you in preparing though in some ways business wise for a slower growth. Economic environment. We know that we need to grow profitably in the future, and in order to do that, we have actually right sized our company. We've found $ 250 million of cost savings, not just to drop to the bottom line, but to invest half of that back into the businesses. To drive profitable growth and get a good flywheel going. So, it is a different way of leading and managing the company, but it is a good way for these times. You say that you are a little more optimistic about the economy. How would you describe the health of the US economy right now? I think it's okay. I think we came from a very difficult place. And I do think that It's not going to be an easy road going forward, but I do think there are paths forward that can be very promising. You know, the U. S. economy depends a lot on consumer spending and you have a lot of contact with consumers. What's your take on their willingness to spend and consumer confidence? I think they are cautious. I think there are some consumers that are optimistic and there are others that are not. But I do think that consumers coming through the great recession that we are emerging from have changed their behavior. It lasted so long that it really did hardwire New behavior of really thinking before you spend. [ BLANK_AUDIO ]

The CEO talks with Fortune's Susie Gharib about the recession and consumer spending habits.

Campbell Soup’s Denise Morrison: Now consumers think before they spend

Retail

The recession has changed consumer spending habits.

Campbell Soup’s CEO: Now consumers think before they spend

Denise, I know you mentor a lot of young women. What's your message to them on how to get ahead and how to be a leader? First of all, they need to build relationships, because their abilities will take them so far, and their relationships will take them the rest of the way. Which means they need to get comfortable with networking, cause networking is working. And then I do think that it's, you know, encouraging them to take Calculated risks. To make sure they have confidence in their abilities to do things that they haven't done before. Many women are risk adverse. They're afraid of making mistake. They want to be perfect. You know, what advice do you give them about dealing with mistakes and failure. Failure is an important part of being an innovator. You need to learn to fail fast. And you need to learn from that failure so you can take those learnings and reapply. I think instead of fearing failure, turn it around. And I say to them, what can you learn from failure, and how do you turn that failure into success? I found it very interesting that you and your sister, Maggie [ UNKNOWN ] are both CEOs of big American companies. You're at Campbell's Soup, she's at Frontier Communications. What's the secret of your success? I mean, what were your parents teaching you about leadership? Yeah, well my father and mother always taught us about leadership, my father especially. When we were children, we had job jars that gave us our daily chores and he would talk about how each one of us had to contribute to the family team. And we could barter the chores, which taught us negotiation skills, but they had to be done by the end of the week. And that was a goal achievement, and then we got an allowance for it. And that was pay for performance, who knew? But that was the way he was and he really saw the world opening up for women and he told us he wanted us to be prepared for that.

Denise Morrison sits down with Fortune's Susie Gharib to discuss the role her parents played in her—and her sister's—career.

Campbell Soup's CEO on Her Family’s Success

Morrison on the role her parents played in her career.

Year	Revenues ($M)	Profits ($M)	Assets ($M)	Total Stockholder Equity ($M)
2022	$8,476-6.3%	$1,002-38.5%	$11,734	$3,152
2021	$9,050-8.7%	$1,628671.6%	$12,372	$2,563
2020	$9,90914.1%	$211-19.2%	$13,148	$1,103
2019	$8,68510.1%	$261-70.6%	$14,529	$1,364
2018	$7,890-0.9%	$88757.5%	$7,726	$1,637

Campbell Soup

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