SHOP McCORMICK SEES
Strong start for Old Bay Seasoned Goldfish
By Jeff Gelski, Food Business News
CAMDEN, NJ. — Goldfish consumption in the third quarter ended May 1 was up 8% when compared to the previous year’s third quarter and up 18% on a three-year basis, said Mark A. Clouse, president and chief executive officer of the Campbell Soup Co., in a June 8 earnings call.
The fourth quarter should receive a boost from Old Bay Seasoned Goldfish, launched in May through a partnership between Campbell Soup and McCormick & Co.
“We quickly created a buzz among a passionate consumer base, logging more than 1 billion impressions in 48 hours,” Mr. Clouse said. “The product sold out within nine hours on Shop McCormick, with velocities very strong across all retail outlets.”
Sales were strong as well for Goldfish Family Size and Goldfish Mega Bites, he said.
“Family Size is overdelivering across all metrics, with strong velocity, distribution and trial,” Mr. Clouse said. “Goldfish Mega Bites continues to outpace our target and overdeliver on our expectations, driven by strong velocity, trial and repeat rates. Our strategy to broaden our consumer base is working, as evidenced by more than half of buyers being households without children and Mega Bites performing well with older consumers.”
The Goldfish brand is within Campbell’s snacks segment, which saw net sales increase 8% to $999 million in the third quarter. Organic net sales also were up 8%. Sales increased in salty snacks, primarily Snyder’s of Hanover pretzels and Kettle Brand potato chips, and in cookies and crackers, primarily Goldfish crackers.
Net earnings attributable to Campbell Soup Co. companywide were $188 million, or 62¢ per share on the common stock, which was up 18% from $160 million, or 55¢ per share, in the previous year’s third quarter. Net sales increased 7%to $2.13 billion from $1.98 billion.