Denise Morrison, CEO of Campbell Soup, is cautiously optimistic that a three-part turnaround strategy will result in success this year. It has sought stability for its core soup and simple meals products, pushed for global expansion and accelerated growth in the healthy beverages and baked snacks business.
Morrison cited "significant progress" including turning negative EBIT and sales into positive for the first part of 2013. Consumers have begun to gravitate back to the brand following a makeover undertaken recently.
The company has tapped the NFL, recruiting football player Victor Cruz as a spokesman. Campbell has also used social media to spread its message.
With long-term net sales growth targets of 3 to 4 percent, the company has much to do before claiming success. Morrison is cautious, saying she is not "putting balloons up" yet. Yet the overall tone is that Campbell has a decent shot at making the targets, and is on a recovery trajectory for the coming year.
