Friday, November 21, 2008
Campbell's Soup is “Fond de Cuisine” For Americans During Tough Times...
You may not "see" the lines of starving Americans outside waiting for bowls of free soup the way we did during the Great Depression, but make no mistake, the proof is in the "stock" - as in Campbell's Soup stock, which has led the Standard & Poor Packaged Foods Index over the past three months, and as recently as Sept. was the lone stock beat the S&P 500 (the remaining 499) by almost 48 percentage points. Shares of the venerable company fell today in response to an analyst downgrading it to "Neutral" from "Buy," but regardless, recent data shows Campbell's soup sales were up 14 percent in the latest four-week period in October, a pretty clear indicator of how priorities have shifted for American consumers. Let them eat soup...!
Did you know that Campbell's has survived 28 recessions, two world wars and the Great Depression over its 139-year existence?