NCP in the News

Date Posted: 05/04/20

NCP In The News: Campbell Soup, Subaru feel pandemic’s impact

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The coronavirus crisis has two city firms moving in different directions, with demand surging at Campbell Soup Co. and plunging at Subaru of America.

 

Both companies cite the impact of stay-at-home orders on the behavior of American consumers.

 

Campbell is seeing increased demand for its soup, pasta sauces and snacks, the food firm said in a filing with the U.S. Securities and Exchange Commission.

 

Mark Clouse, the firm’s president and CEO, cited “a renewal in cooking as a behavior” during an interview on a national TV broadcast Thursday.

 

“And I’m not talking about gourmet cooking,” Clouse told Jim Cramer, the host of CNBC’s Mad Money.

 

“I’m talking about what we call quick ‘scratch cooking,’ putting a few ingredients together that our products serve very well,” the executive said.

 

He said shoppers also want comfort food and better value for their purchases during a time of economic uncertainty.

 

Campbell’s SEC filing said a market research firm, the IRI National Consumer Panel, had noted sharp gains for its staple products.

 

(read the full story)

 

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