Campbell Soup Co. (NYSE: CPB) said on Tuesday that it is launching a brand new, $100 million “It’s Amazing What Soup Can Do,” Ad campaign to help promote its soup brands, the company is hoping to turn the their soup business around.
Over the past year, sales of soup have decreased as steep competition increases from low costing meals such as frozen entrees and pizza. Last week Campbell’s said that sales of both ready-to-serve and condensed soups dropped 7 percent in the fourth quarter. Cutting costs helped net income increase 63 percent, while total sales were down 1 percent compared with the prior year quarter.
Campbell’s new ad campaign is called “It’s Amazing What Soup Can Do,” and includes TV commercials which will include actor Tim Allen’s voice, along with print, radio and online ads. The company says that the campaign is “significantly” larger than any previous ad campaign. Ads started running last Sunday.
Shares dropped 48 cents to $35.73 during morning trading.

