Campbell’s Co. says sales rise as more Americans cook meals at home

The Campbell s Co revealed Monday it saw stronger sales of broth and condensed soup in its latest quarter as more Americans cooked their meals at home Consumers continue to cook at home and focus their spending on products that help them stretch their food budgets and they re increasingly intentional about their discretionary snack purchases Campbell s President and CEO Mick Beekhuizen declared during a conference call with investors Beekhuizen stated Campbell s saw the highest level of meals cooked at home since early in its fiscal third quarter which ended April Campbell s noted sales of its broths rose during the quarter while sales of its Rao s pasta sauces were up But Campbell s stated sales of its snacks including Goldfish crackers and Cape Cod potato chips fell during the quarter Other big companies including McDonald s have also noted that Americans are increasingly eating at home as uncertainty over the financial system grows Grocery prices have also moderated In prices for food eaten at home rose while prices for food away from home rose according to the U S Department of Agriculture Snack makers like PepsiCo which makes Frito Lay chips and General Mills which makes Bugles chips and Golden Grahams have also noted lower demand for snacks in up-to-date quarters Campbell s net sales rose to billion for the fiscal third quarter which was in line with Wall Street s expectations according to analysts polled by FactSet Source