Dee-Ann Durbin
Campbell’s Co. said Monday that more Americans cooked their meals at home, making soup and condensed soup sales stronger in the recent quarter.
“Consumers continue to cook at home and spend on products that help them grow their food budgets. They are becoming increasingly intentional about purchasing discretionary snacks,” Campbell president and CEO Mick Biequizen said during a conference call with investors.
Beekhuizen said Campbell’s saw the highest level of meals cooked at home in early 2020 in the third quarter that ended on April 27th. Campbell’s well-known broth sales increased sales of pasta sauces by RAO.
However, according to Campbell, snack sales, including goldfish crackers and Cape Cod potato chips, fell 4% during the quarter.
Other large companies, including McDonald’s, also point out that Americans are increasingly eating at home as uncertainty about the economy increases. Grocery prices have also been relaxed. In 2024, the prices of food eaten at home rose 1.2%, but the prices of food that were away from home rose 4.1%, according to the US Department of Agriculture.
Snack makers like PepsiCo make Frito’s lay chips, while General Mills, which makes Buggles Chips and Golden Graham, also noted that there was low demand for snacks in recent quarter.
Campbell’s net sales rose 4% to $2.5 billion in the third quarter, according to analysts voted by Factset.
Original issue: June 2, 2025 4:04pm EDT
