Campbell sees no slowdown in emerging markets
CHICAGO (Reuters) - Campbell Soup Co (CPB.N) has seen no impact on its emerging markets businesses in a slowing global economy, the company's chief financial officer said on Tuesday.
Campbell began selling soup in Russia and China in the fall of 2007, trying to tap into those large markets where homemade soup is an ingrained part of the culture.
The global economic slowdown has raised questions about how well some U.S. consumer products might do in emerging markets.
Because the businesses are new, they are small enough that the company can be "nimble" in reacting to market changes, CFO Craig Owens said during a meeting with financial analysts that was webcast.
"We haven't seen a significant slowdown in our very small businesses to date," Owens said.
(Reporting by Brad Dorfman; editing by Richard Chang)
- North Korea says Kim's powerful uncle dismissed for 'criminal acts'
- Protesters fell Lenin statue, tell Ukraine's president 'you're next'
- Thai PM calls snap election, protesters press on
- Singapore hit by rare outbreak of rioting, 27 arrested |
- Billy Joel, Shirley MacLaine feted at Kennedy Center Honors