0923 ET - Campbell's says its snacks business remains under pressure, from new competitors and consumers trading down to store brands in salty snacks and cookies. Campbell's says it plans to address these challenges by rolling out new products and boosting advertising and promotions on products like cookies and pretzels. Campbell's CEO Mark Clouse says that while it may feel like snack makers raised prices too much in recent years, that is in part due to earlier scaled back promotions, and he doesn't expect a significant recalibration in prices. "At the end of the day I don't feel like we need a material change or structural change backwards," Clouse says. Shares sink 5% in premarket trading. (jesse.newman@wsj.com)
(END) Dow Jones Newswires
December 04, 2024 09:23 ET (14:23 GMT)
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