Monday, February 19, 2018

Campbell Soup in hot water

THE WEEK THAT WAS

WINNER: Tampa Bay economy

A 3.2 percent growth rate places the bay area 16th out of 363 metro areas so far this year, according to a U.S. Conference of Mayors report.

LOSER: Baseball in Tampa Bay

St. Petersburg Mayor Bill Foster says Major League Baseball doesn't think the area can successfully support a team.



Americans' shift toward fresh foods is kicking Campbell Soup right in the can. Its quarterly profit has fallen 30 percent as U.S. sales of soups and V8 beverage declined. Campbell has been trying to reshape its image as a purveyor of shelf-stable canned and other packaged products that are sold in the center aisles of supermarkets. The push comes as people increasingly reach for foods they feel are fresh, migrating toward the perimeters of grocery stores where produce, meats and dairy are sold. To better connect with modern consumers, Campbell introduced soups in bright, new plastic pouches and dinner sauces in black packages meant to conjure the blackboard menus at cafes. But the company is still facing competition from the growing prepared-foods sections in supermarkets and other outlets that offer fresh, hot soups.

— Associated Press

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