金宝汤公司Campbell Soup Company (CPB) 2015年年度报告「NYSE」.pdf

1、Campbell Soup Company2015 Annual Report2015 Annual ReportCampbell Soup Company A Period of Revolutionary ChangeThe food industry is being transformed before our eyes by the seismic shifts that Campbell identified early in my tenure.Our industry faces global economic realities with a shrinking Americ

2、an middle class and a growing one in developing markets;major demographic changes,including continued growth of Millennial and Hispanic cohorts in the U.S.and a redefinition of the American family;profound changes in consumer preferences for food with increased focus on health and well-being,fresh a

3、nd organic;and the game-changing impact of digital technologies.The convergence and acceleration of these seismic shifts are reshaping the consumer and retailer landscape and have disrupted steady growth in the food industry,placing volume pressure on mainstream food,particularly center-store catego

4、ries.Traditional food companies have felt the impact for several years.In calendar 2014,on the heels of many of these changes,the industrys average net sales growth rate slowed to only 1-2 percent.In response,companies have initiated a series of strategic actions,from spin-offs and consolidation to

5、acquisitions and aggressive cost-cutting.“The actions we are taking position Campbell for a promising future.”Unmistakable ActionsCampbell has taken unmistakable actions in anticipation of these shifts.Strategically,we have accomplished a great deal over the past several years.Most significantly,we

6、embarked on a strategy of realigning our portfolio to focus on higher-growth categories.In doing this we:Added four new growth engines with the acquisitions of Bolthouse Farms,Plum,Kelsen and,in fiscal 2015,Garden Fresh Gourmet.Exited our Russia operations and shed our slower-growing European simple