Campbell Soup Company (CPB): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage en constante évolution de la fabrication des aliments et des produits de consommation emballés, Campbell Soup Company est un témoignage remarquable de l'innovation stratégique des affaires. Des débuts humbles à une puissance mondiale, cette marque emblématique a méticuleusement conçu un modèle commercial qui transcende la production traditionnelle de soupe, adoptant une approche globale qui entrelace les besoins des consommateurs, l'innovation technologique et le positionnement stratégique du marché. En disséquant la toile du modèle commercial de Campbell, nous découvrirons les mécanismes complexes qui ont propulsé cette entreprise centenaire pour continuer à fournir des solutions de repas de confiance et pratiques à des millions de ménages dans le monde.

Campbell Soup Company (CPB) - Modèle d'entreprise: partenariats clés

Fournisseurs stratégiques d'ingrédients agricoles

Campbell Soup Company entretient des partenariats avec les principaux fournisseurs agricoles dans plusieurs régions:

Catégorie des fournisseurs	Volume annuel	Durée du contrat
Producteurs de tomates	350 000 tonnes	Accords de 3 à 5 ans
Producteurs de légumes	225 000 tonnes	Contrats pluriannuels

Chaînes d'épicerie au détail et distributeurs d'aliments

Les partenariats de distribution clés comprennent:

• Walmart (19,2% du total des ventes)
• Kroger (12,5% du total des ventes)
• Costco (8,7% du total des ventes)
• Amazon / Whole Foods (6,3% du total des ventes)

Fabricants contractuels pour la mise à l'échelle de la production

Les partenariats de production comprennent:

Partenaire de fabrication	Capacité de production	Gammes de produits
Pinnacle Foods	175 000 unités / mois	Repas surgelés
REFRESSCO AMÉRIQUE NORD	125 000 unités / mois	Production de boissons

Partenaires technologiques agricoles durables

La collaboration technologique se concentre sur:

• Precision Agriculture Technologies Inc.
• Société climatique
• Agrotech Solutions LLC

Entreprises de collaboration de marketing et de marque

Les partenariats marketing comprennent:

Partenaire marketing	Budget marketing annuel	Focus de la campagne
Groupe omnicom	45 millions de dollars	Campagnes de marque intégrées
WPP PLC	38 millions de dollars	Stratégies de marketing numérique

Campbell Soup Company (CPB) - Modèle d'entreprise: activités clés

Recherche et développement de produits

Dépenses annuelles de R&D: 91,8 millions de dollars au cours de l'exercice 2023

Zones de mise au point R&D	Pourcentage d'investissement
Innovation alimentaire saine	42%
Développement de produits à base de plantes	28%
Technologie d'emballage	18%
Amélioration de la saveur	12%

Fabrication et transformation des aliments

Installations de fabrication totale: 13 emplacements à travers l'Amérique du Nord

• Capacité de production annuelle: 1,2 milliard d'unités
• Total des employés de la fabrication: 4 500
• Efficacité moyenne de la ligne de production: 87,3%

Marketing de marque et engagement des consommateurs

Canal de marketing	Dépenses annuelles
Marketing numérique	62,4 millions de dollars
Médias traditionnels	41,7 millions de dollars
Campagnes de médias sociaux	18,3 millions de dollars

Gestion de la chaîne d'approvisionnement

Réseau de fournisseurs: 1 200 fournisseurs actifs

• Approvisionnement en ingrédients domestiques: 68%
• Approvisionnement international des ingrédients: 32%
• Durée moyenne des relations avec les fournisseurs: 7,5 ans

Protocoles de contrôle de la qualité et de sécurité alimentaire

Métrique de qualité	Taux de conformité
Normes de sécurité de la FDA	99.7%
Chèques de qualité interne	Tous les jours
Audits tiers	Trimestriel

Personnel total de contrôle de la qualité: 350 employés dédiés à l'assurance de la sécurité alimentaire et de la qualité

Campbell Soup Company (CPB) - Modèle d'entreprise: Ressources clés

Portfolio de marque établi

Campbell Soup Company possède 16 marques Génération de plus de 100 millions de dollars en ventes annuelles, notamment:

• Soupe de Campbell
• Ferme de Pepperidge
• Poisson rouge
• V8
• Rythme

Installations et équipements de fabrication

Emplacement	Nombre d'installations	Capacité de production annuelle
États-Unis	18	2,4 milliards d'unités
International	7	0,6 milliard d'unités

Réseau de distribution

Réalisation de la distribution: 120 pays du monde

• Plus de 50 000 emplacements de vente au détail en Amérique du Nord
• Distribution directe aux grandes chaînes d'épicerie
• Intégration des plates-formes de commerce électronique

Propriété intellectuelle

Campbell tient 279 brevets actifs liés aux technologies de transformation des aliments et d'emballage en 2023.

Effectifs

Catégorie des employés	Total des employés
Total de main-d'œuvre	16,700
Fabrication de travailleurs	8,900
Recherche & Développement	450

Campbell Soup Company (CPB) - Modèle d'entreprise: propositions de valeur

Solutions de repas pratiques et nutritifs

Campbell Soup Company génère 9,18 milliards de dollars de revenus annuels (2023 exercices). L'entreprise propose plus de 500 variétés de produits dans les catégories de soupe, de collation et de solutions de repas.

Catégorie de produits	Ventes annuelles ($ m)	Part de marché
Soupes condensées	1,450	70%
Soupes prêtes à manger	890	45%
Snacks	1,230	35%

Marque de confiance avec une reconnaissance générationnelle

La marque de Campbell est sur le marché depuis 153 ans, avec 94% de reconnaissance de marque parmi les consommateurs américains.

• Fondée en 1869
• Opère dans 120 pays
• Possède 17 grandes marques alimentaires

Divers gamme de produits entre les catégories de soupe et de collations

Marque	Type de produit	Revenus annuels ($ m)
Soupe de Campbell	Soupe	2,300
Ferme de Pepperidge	Collations / boulangerie	1,750
Poisson rouge	Craquelins	1,100

Qualité et goût cohérents

Campbell's maintient 99,7% Compliance de la qualité du produit avec des normes de fabrication strictes.

• Utilise 2 500 points de contrôle de qualité par lot de production
• Investit 120 millions de dollars par an dans la recherche sur la sécurité alimentaire
• Maintient la certification de la sécurité alimentaire ISO 22000

Options de repas abordables pour les familles

Les prix moyens des prix du produit varient de 1,50 $ à 3,99 $ par article, ciblant les consommateurs soucieux du budget.

Type de produit	Prix ​​moyen	Portion
Soupe condensée	$1.79	10,5 oz
Soupe prête à manger	$2.49	16 oz
Snacks	$3.29	6-8 portions

Campbell Soup Company (CPB) - Modèle d'entreprise: relations avec les clients

Engagement direct aux consommateurs via les médias sociaux

Campbell Soup Company maintient une présence active sur les réseaux sociaux avec 272 000 abonnés Instagram et 343 000 abonnés Facebook en 2024. La société génère environ 18,4 millions d'impressions sur les réseaux sociaux par an.

Plateforme de médias sociaux	Nombre de suiveurs	Impressions annuelles
Instagram	272,000	6,2 millions
Facebook	343,000	7,8 millions
Gazouillement	89,000	4,4 millions

Programmes de fidélité et campagnes promotionnelles

Les outils de Campbell ont ciblé les programmes de fidélité avec 1,2 million de membres actifs. La société alloue 14,3 millions de dollars par an aux initiatives de rétention des clients.

• Campbell's Kitchen Rewards Program Adhésion: 1,2 million de membres
• Taux de rétention annuel moyen de la clientèle: 68,5%
• Budget de campagne promotionnelle: 14,3 millions de dollars

Systèmes de commentaires des clients et d'amélioration des produits

Campbell reçoit environ 47 000 interactions directes de rétroaction des clients par an. Le taux de modification des produits basé sur les entrées des consommateurs est de 22,6%.

Métrique de rétroaction	Valeur annuelle
Interactions totales du client	47,000
Taux de modification des produits	22.6%
Score de satisfaction du client	7.4/10

Plate-formes de contenu de recette numérique et de cuisine

La plate-forme de recettes numériques de Campbell génère 3,6 millions de vues de contenu mensuel avec 285 000 contributeurs de recettes enregistrées.

• Vues de la plate-forme de recettes numériques mensuelles: 3,6 millions
• Contributeurs de recettes enregistrées: 285 000
• Temps d'engagement moyen de recette: 4,2 minutes

Canaux d'assistance du service client

Campbell maintient le support client multicanal avec un taux de résolution numérique de 92% et un temps de réponse moyen de 2,7 heures.

Canal de support	Taux de résolution	Temps de réponse moyen
Support téléphonique	87%	3,1 heures
Assistance par e-mail	94%	2,4 heures
Chat de site Web	95%	1,9 heures

Campbell Soup Company (CPB) - Modèle d'entreprise: canaux

Réseaux de vente au détail d'épicerie

Campbell Soup Company distribue des produits dans plus de 85 000 épiceries de vente au détail aux États-Unis, notamment:

Détaillant	Nombre de magasins	Pénétration du marché
Walmart	4,742	52% de couverture de produit
Kroger	2,742	38% de couverture du produit
Albertsons	2,276	Couverture de produit 32%

Plateformes de commerce électronique en ligne

Les canaux de vente numériques représentent 12,4% des revenus totaux de Campbell en 2023, avec des plateformes clés, notamment:

• Amazon.com: 127 millions de dollars en ventes en ligne annuelles
• Instacart: 43 millions de dollars de ventes en ligne annuelles
• Walmart.com: 38 millions de dollars de ventes en ligne annuelles

Sites Web directes aux consommateurs

Campbell exploite des plateformes spécialisées directes aux consommateurs pour des marques spécifiques:

• Goldfish Crackers Store en ligne: 45 000 visiteurs mensuels uniques
• V8 Vente de légumes Ventes directes: 22 000 transactions en ligne mensuelles

Distributeurs alimentaires en gros

Campbell travaille avec 37 principaux distributeurs alimentaires en gros, notamment:

Distributeur	Volume des ventes annuelles	Régions de distribution
Sysco Corporation	42 millions de dollars	National
Aliments américains	29 millions de dollars	National

Marchés d'exportation internationaux

Campbell exporte vers 120 pays, avec des marchés internationaux clés:

Pays	Revenus d'exportation annuels	Catégories de produits primaires
Canada	387 millions de dollars	Soupe, collations
Royaume-Uni	214 millions de dollars	Soupe, condiments
Australie	156 millions de dollars	Soupe, craquelins

Campbell Soup Company (CPB) - Modèle d'entreprise: segments de clientèle

Les familles à la recherche de solutions de repas pratiques

En 2023, Campbell Soup Company a déclaré 8,6 milliards de dollars de ventes nettes annuelles, avec 36% des revenus des segments de repas pratiques.

Caractéristiques du segment	Taille du marché	Fréquence d'achat
Ménages avec enfants	42,1 millions de ménages américains	Achats hebdomadaires de la soupe: 2,3 fois par mois

Consommateurs soucieux de leur santé

Les marques de V8 et Bolthouse de Campbell ciblent les consommateurs orientés vers la santé, ce qui représente 12% du total des revenus de l'entreprise.

• Ventes de produits biologiques: 456 millions de dollars en 2023
• Croissance de la gamme de produits à faible sodium: 7,2% d'une année à l'autre
• Segment de produits à base de plantes: 213 millions de dollars en ventes annuelles

Acheteurs à l'esprit budgétaire

La soupe moyenne de Campbell peut prix: 1,89 $, positionnement pour les consommateurs soucieux des coûts.

Fourchette	Segment des consommateurs	Pénétration du marché
$1.50 - $2.50	Consommateurs à la recherche de valeur	48% de la clientèle totale

Millennials et consommateurs de la génération Z

Croissance du canal de vente numérique: 22% en 2023, ciblant la démographie plus jeune.

• Achats d'épicerie en ligne: 16,4% du total des ventes
• Engagement des médias sociaux: 2,7 millions d'adeptes
• Lignes de produit axées sur la durabilité: 340 millions de dollars de revenus

Fournisseurs de services alimentaires institutionnels

Revenu du segment des services alimentaires: 1,2 milliard de dollars en 2023.

Type de client	Volume d'achat annuel	Catégories de produits
Restaurants	680 millions de dollars	Soupes condensées, sauces
Hôpitaux	270 millions de dollars	Read-to-aed Meals
Écoles	250 millions de dollars	Souppe en vrac et solutions de repas

Campbell Soup Company (CPB) - Modèle d'entreprise: Structure des coûts

Achat d'ingrédients bruts

Campbell Soup Company a dépensé 1,87 milliard de dollars en matières premières au cours de l'exercice 2023. Répartition des achats d'ingrédients:

Catégorie d'ingrédient	Coût annuel
Légumes	412 millions de dollars
Protéines de viande	345 millions de dollars
Produits laitiers	276 millions de dollars
Épices et assaisonnements	187 millions de dollars

Dépenses de fabrication et de traitement

Coûts de fabrication totaux en 2023: 1,23 milliard de dollars

• Coûts de main-d'œuvre de production: 456 millions de dollars
• Entretien de l'équipement: 213 millions de dollars
• Consommation d'énergie: 187 millions de dollars
• Matériel d'emballage: 276 millions de dollars

Investissements marketing et publicitaire

Dépenses de marketing pour l'exercice 2023: 542 millions de dollars

Canal de marketing	Dépenses
Marketing numérique	187 millions de dollars
Publicité télévisée	214 millions de dollars
Publicité imprimée et extérieure	89 millions de dollars
Campagnes de médias sociaux	52 millions de dollars

Distribution et logistique

Total des dépenses de distribution en 2023: 689 millions de dollars

• Coûts de transport: 276 millions de dollars
• Opérations d'entrepôt: 213 millions de dollars
• Gestion des stocks: 145 millions de dollars
• Expédition et manutention: 55 millions de dollars

Coûts de recherche et de développement

Investissement de R&D pour l'exercice 2023: 187 millions de dollars

Zone de focus R&D	Investissement
Innovation de produit	98 millions de dollars
Recherche nutritionnelle	45 millions de dollars
Technologie d'emballage	29 millions de dollars
Initiatives de durabilité	15 millions de dollars

Campbell Soup Company (CPB) - Modèle d'entreprise: Strots de revenus

Ventes de soupe emballées

Campbell Soup Company a généré 8,57 milliards de dollars de ventes nettes totales pour l'exercice 2023. Les ventes de soupe emballées représentaient une partie importante de ces revenus.

Catégorie de produits	Revenus annuels	Part de marché
Soupe condensée de Campbell	1,42 milliard de dollars	65.3%
Soupe prête à manger de Campbell	687 millions de dollars	32.7%

Gammes de produits alimentaires de collation

Les revenus de Snack Food ont contribué à 2,93 milliards de dollars aux ventes totales de l'entreprise en 2023.

• Cookies de la ferme de Pepperidge: 1,25 milliard de dollars
• Crackers de poisson rouge: 842 millions de dollars
• Snacks Lance: 435 millions de dollars
• Snyder's of Hanover Betzels: 328 millions de dollars

Exportations du marché international

Les revenus des segments internationaux ont atteint 1,64 milliard de dollars au cours de l'exercice 2023.

Région	Revenu	Taux de croissance
Canada	612 millions de dollars	3.2%
Europe	534 millions de dollars	2.7%
Asie-Pacifique	494 millions de dollars	1.9%

Revenus du segment des services alimentaires

Le segment des services alimentaires a généré 1,28 milliard de dollars de ventes au cours de l'exercice 2023.

• Restaurants: 687 millions de dollars
• Restauration institutionnelle: 392 millions de dollars
• Installations de soins de santé: 201 millions de dollars

Licence et extensions de marque

Les licences et les extensions de marque ont contribué environ 95 millions de dollars à un chiffre d'affaires total en 2023.

Catégorie de licence	Revenu
Ustensiles de cuisine	38 millions de dollars
Ustensiles de cuisine	29 millions de dollars
Marchandises de marque	28 millions de dollars

Campbell Soup Company (CPB) - Canvas Business Model: Value Propositions

You're looking at the core reasons why consumers keep Campbell's Company (CPB) products in their pantries and shopping carts as of late 2025. It's a balancing act between the familiar and the premium.

Convenience and Affordability: Quick, accessible pantry staples for mass market

The foundation of Campbell's Company remains its role as a provider of quick, accessible pantry staples. This value proposition is supported by massive household penetration; the company estimates that 95% of US households use a Campbell's product. This reach is essential for maintaining volume, even as the overall organic net sales for fiscal year 2025 decreased by 1% to reach total net sales of $10.3 billion. The Meals & Beverages division, which houses core soup items, saw consumers cooking at home at high levels, which benefited brands like Swanson broth, though U.S. soup sales saw declines in ready-to-serve and condensed varieties during the third quarter of fiscal 2025. The company returned $521 million to shareholders in fiscal 2025, signaling financial stability to support these mass-market offerings.

Premium Quality: High-growth, premium offerings like Rao's pasta sauces

Campbell's Company is actively shifting its portfolio toward premium experiences, a strategy clearly demonstrated by the integration of Sovos Brands. The flagship premium offering, Rao's pasta sauces, is on track to become the fourth brand to achieve $1 billion in annual sales for the company. This focus is key, as the premium segment is a bright spot when consumers are budget-conscious. Post-acquisition, the premium offerings in the Meals & Beverages portfolio are expected to jump above 25% of that division's total, up from about 10% previously. While Rao's saw a decline in U.S. soup sales in the fourth quarter of 2025, the brand itself was noted as having double-digit growth in late 2024, underscoring its premium appeal.

Iconic Comfort: Nostalgic, trusted brands central to US home cooking (e.g., Green Bean Casserole)

The emotional connection to brands like Campbell's soup is a powerful, non-financial value driver, though it is reflected in the financial performance of the core business. The company's long history, dating back to 1869, underpins this trust. While the overall organic sales for fiscal 2025 were down 1%, the Meals & Beverages segment benefited from the continued trend of home cooking, which supports these iconic comfort foods. The company's ability to generate $1.1 billion in cash flow from operations in fiscal 2025 suggests the enduring, reliable demand for these central kitchen items.

Snack Variety: Diversified, on-trend snack options (e.g., Goldfish, Kettle Brand)

Campbell's Company offers a broad range of snacks to capture diverse consumer tastes, though this segment faced headwinds in fiscal 2025. The Snacks segment saw organic sales decrease by 2% in the fourth quarter of 2025, with specific declines noted for Goldfish crackers in earlier quarters of the year. However, the portfolio's variety provides resilience, as the company noted gains in brands like Kettle Brand and Late July in the fourth quarter. The company is working to manage the mix, as partner and contract brands, which are lower margin, contributed to the organic sales decline in the Snacks segment in Q2 2025.

Here's a quick look at the recent performance context for the portfolio:

Segment/Brand Focus	Metric	Value
Total Company (FY2025)	Net Sales	$10.3 billion
Total Company (FY2025)	Organic Net Sales Change	-1%
Rao's Brand	Projected Status	Approaching $1 billion brand
Snacks Segment (Q4 2025)	Organic Sales Change	-2%
Meals & Beverages Premium Mix	Post-Sovos Share of Division	Above 25%

Reliable Supply: Consistent product availability through an advantaged supply chain (Source 20)

Maintaining consistent product availability is a critical value proposition, especially given the complexity of a diversified portfolio that includes snacks, soups, and premium sauces. To enhance this, Campbell's Company announced plans for a $230 million investment aimed at restructuring production facilities to improve overall efficiency across supply chain operations. The company has also made leadership changes, appointing a new senior vice president of supply chain in November 2024 to manage the end-to-end function, which includes manufacturing, procurement, and logistics. This investment is designed to create a more agile, flexible, and cost-effective manufacturing network to support the delivery of its products to the 95% of US households that use them.

Campbell Soup Company (CPB) - Canvas Business Model: Customer Relationships

You're looking at how Campbell Soup Company keeps its massive brand portfolio top-of-mind for millions of shoppers, which is a constant balancing act between legacy advertising and new digital frontiers. Honestly, the numbers show where the dollars are actually going to maintain that shelf presence and digital buzz.

Mass-market advertising and digital campaigns to maintain brand relevance are backed by significant spending. For the second quarter of fiscal 2025, Marketing and selling expenses hit $256 million, representing approximately 10% of net sales. That figure moderated slightly in the third quarter to $216 million, still about 9% of net sales. By the fourth quarter of fiscal 2025, Marketing and selling expenses were $202 million, or approximately 9% of net sales. For the full year, the total combined dollar spend on adjusted marketing, selling and administrative expenses was flat at approximately 15% as a percentage of net sales. Advertising and consumer promotion expenses specifically increased 12% for the full year 2025, largely due to the contribution from the Sovos Brands acquisition. The company's strategy definitely involves connecting with younger consumers, targeting Millennials and Gen Z through digital marketing.

Here's a quick look at the reported Marketing & Selling Expense trends for the latter half of fiscal 2025:

Metric	Q2 FY2025 Amount	Q3 FY2025 Amount	Q4 FY2025 Amount	Full Year FY2025 (Adj. M, S, & A)
Marketing & Selling Expense	$256 million	$216 million	$202 million	Approximately 15% of Net Sales (Combined)
M&S as % of Net Sales	Approximately 10%	Approximately 9%	Approximately 9%	N/A

Retailer-specific trade promotions to secure shelf space and drive volume are critical, given the concentration of their customer base. Back in 2024, the top five customers, which are major retailers, accounted for approximately 47% of consolidated net sales. Trade promotion activity is embedded within the broader marketing spend, as seen by the increase in advertising and consumer promotion expense in the base business during Q2 FY2025. Net price realization is a key lever used in trade discussions, which partially offset volume/mix declines in organic net sales in Q4 FY2025.

For direct engagement via social media platforms (TikTok, Instagram), the focus is on tuning the channel mix based on consumer behavior data. The company uses its annual 'State of the Sides' study to tighten influencer choices. This digital push also includes leveraging partnerships in the sports and gaming communities, such as with the NFL and the video game EA Madden, to reach younger demographics. The brand has also focused on making products available via convenience-driven online channels, including shoppable digital ads.

Regarding automated customer service for product inquiries and quality assurance, the public financial disclosures do not detail specific metrics like the volume handled by automated systems or associated cost savings as of late 2025. The company's focus on cost savings initiatives, targeting approximately $250 million in annual savings by the end of 2028, suggests efficiency efforts are ongoing across operations.

• The company is committed to its 'Win in Soup' strategy, which resonated with younger consumers valuing soup's nutrition and emotional satisfaction.
• Campbell Soup Company is ranked among the best food and beverage companies for investor, employee, and consumer trust as of 2025.
• The company has operations in 120 countries with nearly 30 facilities globally.

Finance: draft 13-week cash view by Friday.

Campbell Soup Company (CPB) - Canvas Business Model: Channels

You're looking at how Campbell Soup Company moves its products from the factory to your pantry or plate as of late 2025. The distribution network is vast, built on decades of shelf presence, but it's definitely evolving, especially with the integration of the Sovos Brands portfolio.

Major US and Canadian grocery retailers (supermarkets, mass merchandisers) represent the backbone of Campbell Soup Company's distribution. This channel moves the bulk of the company's volume across its Meals & Beverages and Snacks divisions. For the second quarter of fiscal 2025, the Meals & Beverages segment, which includes retail sales of soups, sauces, and beverages, generated reported net sales of approximately $1.7 billion. The Snacks division, moving items like Goldfish crackers and Snyder's of Hanover pretzels through these same retail doors, had reported sales of about $1 billion in that same quarter. The company's overall fiscal 2025 net sales reached $10.3 billion. To be fair, these segment numbers aren't pure channel data, but they show where the product volume is moving before considering foodservice cuts.

The company's reliance on key retail partners is a known factor; in fact, one of the risks noted was that certain of the company's key customers maintain significance to the company's business. North America is the largest market overall, accounting for approximately 70% of the sales for soups and broth specifically.

Here's a look at the segment sales data from Q2 FY2025, which heavily reflects the retail channel's contribution:

Segment	Reported Net Sales (Q2 FY2025)	Primary Channel Focus
Meals & Beverages	$1.7 billion	Retail (US/Canada) & Foodservice
Snacks	$1 billion	Retail (US)

E-commerce and online grocery delivery platforms are an increasingly important part of the mix, though specific revenue percentages aren't broken out in the latest reports. We know that e-commerce retailers are expanding their market presence, which impacts how Campbell Soup Company manages its shelf space and inventory flow. The company is focused on ensuring its leadership brands, like Goldfish and Rao's, are available where consumers are shopping online, whether through direct-to-consumer initiatives or major online grocery partners.

The foodservice channel (institutional, restaurants) shows clear growth momentum within the Meals & Beverages segment. For instance, in the first quarter of fiscal 2025, organic net sales saw gains in foodservice, which helped offset declines elsewhere. Similarly, in the third quarter of fiscal 2025, foodservice was noted as a driver of organic sales increases. This channel moves products like Swanson broth and various soups to institutions and restaurants, providing an alternative revenue stream outside of the traditional supermarket shelf.

For convenience stores and drug stores for immediate consumption snacks, the data isn't explicitly quantified for fiscal 2025. However, this channel is a natural fit for the Snacks portfolio, which includes brands like Pepperidge Farm cookies and Lance sandwich crackers. These smaller format stores are critical for impulse buys and immediate consumption, supporting the overall Snacks division's performance, which saw reported sales of $1 billion in Q2 FY2025.

You should check the Q1 FY2026 investor deck for a more granular breakdown of the e-commerce penetration rate, as that's where these details usually surface post-year-end. Finance: draft 13-week cash view by Friday.

Campbell Soup Company (CPB) - Canvas Business Model: Customer Segments

You're looking at the hard numbers that define who buys The Campbell\'s Company products as of late 2025. This isn\'t about marketing fluff; it's about where the revenue is actually coming from across the fiscal year 2025.

Mass Market Consumers: Price-sensitive shoppers seeking value and convenience

This segment is reflected in the performance of core, everyday items, which showed mixed results throughout fiscal 2025. The overall organic net sales for the full fiscal year 2025 decreased by 1%, landing at $9.3 billion, indicating consumer intentionality in spending. In the second quarter of fiscal 2025, U.S. soup sales declined, specifically citing decreases in ready-to-serve soups. However, the trend shifted later in the year, as the third quarter of fiscal 2025 saw organic sales growth in U.S. soup, driven by increases in condensed soups and broth. This suggests that while some price-sensitive shoppers pulled back, others returned to value-oriented staples.

Premium Food Enthusiasts: Consumers willing to pay for high-quality, authentic brands (Rao\'s)

The premium tier, anchored by the Rao\'s brand, shows significant financial weight. The Campbell\'s Company is pleased with Rao\'s post-acquisition momentum as it approaches becoming its fourth $1 billion dollar brand as of the fourth quarter of fiscal 2025. In fiscal 2024, Rao\'s represented about 69% of Sovos Brands\' adjusted net sales, which was $837 million the prior year. For the third quarter of fiscal 2025, net sales of Rao\'s pasta sauces increased, and the brand is expected to moderate its growth to the high single digits long-term. To be fair, the fourth quarter of fiscal 2025 saw a reported decline in Rao\'s pasta sauces sales, though the Ready-to-Serve portfolio overall benefited from gains in the Rao\'s brand.

Families with Children: Primary buyers of snacks like Goldfish crackers

The Snacks division faced pressure, but key family brands showed resilience. Goldfish crackers account for a quarter of The Campbell\'s Company entire portfolio as of late 2024. In the second quarter of fiscal 2025, the Snacks segment organic revenue fell 3% to $1 billion. Still, the fourth quarter of fiscal 2025 saw sales in the Snacks segment increase by 2%, with reported gains in brands like Goldfish crackers, Kettle, and Late July. The overall portfolio of eight snack leadership brands holds positive five-year compound annual growth rates ranging from 4% to 9%.

Foodservice Operators

This group is captured within the Meals & Beverages segment performance, particularly in the second quarter of fiscal 2025. In that quarter, the organic sales growth for the Meals & Beverages segment was partially offset by declines in U.S. soup, but it saw gains in foodservice. The company expects to benefit from the continued trend of consumers cooking at home looking ahead to fiscal year 2026, which implies continued reliance from foodservice operators for ready-to-use products.

Home Cooks: Consumers who defintely rely on condensed soup and broth for recipes

The trend toward home cooking is a clear tailwind for this segment, especially for broth and cooking-specific soup formats. In the fourth quarter of fiscal 2024, The Campbell\'s Company recorded robust share gains in its Swanson broth business, benefiting from consumers opting for home cooking over dining out. This momentum carried into fiscal 2025; the third quarter saw sales of U.S. soup increase due to growth in condensed soups and broth. Furthermore, the fourth quarter of fiscal 2025 saw the Meals & Beverages division benefit from growth in broth and condensed cooking soups, even as the overall segment organic sales fell.

Here's a quick look at the segment revenue context from the second quarter of fiscal 2025, which gives you a snapshot of scale:

Segment	Net Sales (Q2 FY2025, $ millions)	% Change vs. Prior Year (Reported)	Organic Net Sales % Change
Meals & Beverages	$1,679	21%	(1)%
Snacks	$1,006	(6)%	(3)%
Total	$2,685	9%	(2)%

The full fiscal year 2025 net sales reached $10.3 billion, up 6% from fiscal 2024.

• The portfolio of 16 leadership brands represented 84% of enterprise sales in fiscal 2024.
• These leadership brands accounted for approximately 95% of segment operating earnings in fiscal 2024.
• The company is focused on its North American market, which generated $7.95 billion (93.8%) of its total revenue in a prior period.

Finance: draft 13-week cash view by Friday.

Campbell Soup Company (CPB) - Canvas Business Model: Cost Structure

You're looking at the core expenses driving The Campbell's Company's operations as of late 2025, which are heavily influenced by external pressures like tariffs and the financing of recent growth.

Cost of Goods Sold (COGS) is fundamentally driven by the cost of raw materials, packaging, and the labor required for manufacturing. While the total COGS figure isn't explicitly broken out here, the pressure points are clear, especially concerning packaging inputs.

Tariff Headwinds present a significant, quantifiable cost burden projected for the next fiscal year. Gross tariffs are projected to hit approximately 4% of cost of products sold for fiscal 2026. Over half of this exposure is specifically tied to Section 232 steel and aluminum tariffs. The company expects to mitigate about 60% of this total tariff impact through various actions.

Selling, General, and Administrative (SG&A) costs include significant marketing investments. For the first quarter of fiscal 2025, adjusted marketing and selling expenses reached $241 million, representing approximately 9% of net sales. Administrative expenses for that same quarter were $175 million.

Debt Servicing costs reflect the financing of the Sovos Brands acquisition. The full-year fiscal 2025 net interest expense was $328 million, up from $243 million in the prior year. The adjusted net interest expense for fiscal 2025 was $241 million.

Capital Expenditures (CapEx) show investment in the operational backbone. Full-year fiscal 2025 capital expenditures totaled $426 million. For comparison, Q1 FY2025 CapEx was $110 million, and year-to-date through Q2 FY2025, CapEx stood at $211 million. Management has projected that for fiscal 2026, capital expenditures will be approximately 4% of net sales.

Here's a quick look at some of the key financial figures impacting the cost structure:

Cost Component	Period	Amount (USD Millions)	Notes
Net Interest Expense	FY2025 Full Year	$328 million	Reflects higher debt levels and rates
Adjusted Net Interest Expense	FY2025 Full Year	$241 million	Excluding items impacting comparability
Capital Expenditures	FY2025 Full Year	$426 million	Total investment for the year
Adjusted Marketing & Selling Expenses	Q1 FY2025	$241 million	Partially offset by lower other marketing expenses
Administrative Expenses	Q1 FY2025	$175 million	Reported GAAP amount

The company is actively working to manage these costs through productivity programs, aiming for $375 million in savings by 2028 under its peak program.

The cost structure is also being managed via pricing and sourcing strategies:

• Expected tariff cost increase in FY2026: 4% of COGS.
• Expected tariff mitigation: 60% of the impact.
• Section 232 steel/aluminum tariffs account for over 50% of the projected tariff exposure.
• The company is focused on productivity gains, inventory management, and supplier collaboration to offset costs.

Finance: draft 13-week cash view by Friday.

Campbell Soup Company (CPB) - Canvas Business Model: Revenue Streams

You're looking at the hard numbers for how Campbell Soup Company, now The Campbell's Company, actually brings in the money as of late 2025. It's all about the top line, so let's break down where the revenue is coming from based on the Fiscal Year 2025 results.

Net Sales: Total reported Net Sales for Fiscal Year 2025 hit $10.3 billion, marking a 6% increase year-over-year. That growth was definitely helped by acquisitions, as the organic net sales actually decreased by 1% for the full year. Honestly, that $10.3 billion figure shows the power of the portfolio, even with softer volume in some areas.

The revenue is split across two main divisions, which you can see clearly when you look at the product mix from the end of the fiscal year:

Revenue Stream Category	Approximate Revenue Share (FY2025)
Snacks	43%
Soup (within Meals & Beverages)	27%
Other Simple Meals (within Meals & Beverages)	23%
Beverages (within Meals & Beverages)	7%

Meals & Beverages Sales: This segment pulls in revenue from iconic staples like Campbell's condensed and ready-to-serve soups, broth, and acquired premium brands. For instance, Rao's pasta sauces is a major contributor, approaching $1 billion in sales on a proforma basis. In the fourth quarter of FY2025, this division saw a 1% favorable net price realization, which helped offset a 4% decline in volume/mix.

Snacks Sales: This is the largest piece of the pie, accounting for about 43% of total revenue. You're looking at sales from the diverse portfolio including Goldfish crackers, Pepperidge Farm cookies, Snyder's of Hanover pretzels, and Cape Cod chips. The Snacks business had a better pricing environment in the fourth quarter, delivering 2% favorable net price realization against a 5% unfavorable volume/mix impact.

Net Price Realization: This is the direct revenue lift from strategic pricing actions taken to counter inflation. For the final quarter of the fiscal year, Campbell Soup Company realized pricing benefits across both segments:

• Meals & Beverages: 1% favorable net price realization.
• Snacks: 2% favorable net price realization.

Synergy Capture: While the outline suggested a specific number, the most recently updated guidance for full-year fiscal 2025 cost savings, which directly boosts operating profit through efficiency and integration, was increased to $120 million. This reflects progress from initiatives like the Sovos Brands integration, which is now fully integrated into the Campbell's ERP system, setting up further back-office savings for fiscal 2026.