Campbell funds 'growth initiatives'

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Campbell Soup Co. President-CEO Dale Morrison, announcing the company's earnings today, said sales increases in soup, biscuits and foodservice are funding a 20% increase in advertising and other "brand growth initiatives." For the quarter ended Nov. 2, Campbell's net sales were up 3% to $2.12 billion. For its soup/sauces, biscuits/confectionery and foodservice lines, sales were up 6% and earnings 12%, Campbell said. Sales for Campbell's Specialty Foods, the food lines including Vlasic and Swanson that the company has proposed spinning off into a separate entity, were down 4% to $323 million.

Copyright November 1997, Crain Communications Inc.

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