Discounting and deals haven't spurred soup sales so Campbell Soup Co. is spending big on innovation and marketing as a way to jolt the market to life. The company said it will spent $100 million on
marketing and innovation in fiscal year 2012. For the fiscal year ending July 31, Campbell sales across all of its businesses increased by 1%, while its U.S. simple meals sales fell by 6%.
On the positive side, sales of products from its snacking and baking divisions are up 9% for the year and up 17% in the fourth quarter compared with a year ago. Campbell plans to reformulate
soups to focus on taste, moving away from the sodium-reduction strategy it had been pushing.
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