today. joining Thanks, Good Ken. us everyone, for thanks and morning,
through your Investor you and this thank years decided wish call be for the to earnings Relations. retire get his I Before I of the we best contributions and Vice to you Ken to our performance, should Ken, President in Company your as to that retirement. the want from Campbell acknowledge has last
the start results with Our year were expectations. consistent our largely to
call, model, further implement we portfolio, snacks will Company integrating new quarter operating division. business, XXXX As a in stabilization of the including invest our fourth the and fiscal be fully as for year during the our we discussed optimize our
continue in building these progress make focus we foundation put in to place XXXX. great areas, We across fiscal upon the
sales Looking business. in where decline offset the Soup results, ago, to year in was with just X% the large by timing across more reflected Beverage, organic segment the at below a sales US our than in Meals related were of under increased contributions continued This Performance Thanksgiving X%. the X% strength due snacks shipments slightly holiday. part & to sales
Although are market this encouraged What I timing in building shift that we QX. fully most resulted to performance across QX, I'm where momentum both in end our is a balance in divisions. headwind expect by
measured in fact, In channels, end our than market consumption more company total grew X%.
share than time Our Soup share in of the or in more representing was in business held our led years. of This in by brands and XX% gains stated nearly three XX total categories finally categories. priority grew our first XX for
Adjusted integration. million We and enterprise the continue the the expected, the margin of synergies growth. than including although quarter strategic delivered adjusted plan, resulting program in We a of double-digit timing majority $XX our XX savings. snacks was improvements to our was EBIT productivity cost savings gross inclusive and multi-year in of better EPS upon execute the point supported our by other expansion, in elements basis cost key from we upside
Turning & Meals on a start segments Beverages. to of with discussion let's X, Slide our
of of this portfolio includes quarter, QX stabilize those reflect optimization do I indicated reminder, work great to business had results a This As when last deal many actions. and our in the mixed to increased we investments. and of a we spoke
on advertising instance The clearly, we around behind time were US of yet but TDPs with But about our a down earlier net down in only progress. is X% X%. including For season brands division in division of achieved in A&C This up QX in overall this take increase while overall consumption goal the the Soup our is happy improving have the market, am stabilization. some and not I positive. X% in will share XX%
our timing to sales recover net of we and profit was difference previously we As decisions and expect holiday have to which primarily optimize consumption shipments, the in proactive volume. some made foodservice certain mentioned, lower in that QX
are specifically sizable shipments condensed progress our play making the Soup; pronounced market role on the in US recipes, Turning impact business. Thanksgiving in broths most soup, of of many to and a where while timing the varieties holiday was on we encouraging
injecting and portfolio. to continuing important the while rationalizing much investment are needed We also strengthen retailer relationships
share. step the in discussed first stabilizing before, my we've is this journey in As view,
ten This time quarter overall share. first Soup marked gained in the quarters Campbell that
categories. fact, indicators US maintained to early ready This three-year grew is progress Soup. the journey serve, revitalize across or we broth and of one of condensed, to on share In our the
And On slide. I'll next the Slide improved X%, unpack in on offset about X, more X% the consumption while in quarter. the velocities that by soup in were sales quarter, declined only TDP losses declined soup essentially
see, net the As point gap sales to of is entirely consumption you due can and between the Thanksgiving. X timing
to category, more our and XX; a month encouraging. it's initial earlier, while to We fiscal in are advertising early Turning we investments ready both dollars to is year. started condensed Slide And up. serve on days, the the our investing with sooner advertising response this
we've the soup and second immediately. now are Through advertising new we start For the those on air went XXth tomato on saw positive lifts, September quarter improved up of lifts which X%. example, our
product our ROI frequency increased which is of the have We high select and investments. promotional our retailer portfolio, across relationships improving also a
of some Soup our as onto in own optimize historic our and headwinds mentioned to distribution choices Moving experienced portfolio. we TDPs, August, back of lack we've to due support
would serve of Approximately our velocity lower of they losses coming the as from to I tail these non-regrettable, were SKUs characterize and are what meaning condensed ready TDP XX% that segments.
that We're sustain But even the as our XX% we've support get hard velocities. important are However, stronger we soup most we right have head is heart season. to now added, what the about to an remain velocity those of the SKUs with higher, and pushing should back. is into
progress, is the expand for of category the laying the we return innovation, category. next the expect we in I foundation In soup; of the headed to year. summary, month and about ultimately each the which we Pacific, including year to we're improvements to direction sustainment are feel which are seeing top growth more good with the on With on aim line this
encouraged portfolio actions is responding I'm how also taking. by are the to we the
I've As happen emphasized won't day from overnight. one, change
expect Soup our the ahead will US sales second profile the Looking in we to that to business continue improve. quarter, net
sauce its other number the the performance I'm momentum and with of which Prego the In one category. its of division, brand, parts position in continued Italian strong maintained pleased our share
remains VX, category continue to shelf-stable optimize the challenged Splash. as juice on we portfolio, our to primarily Turning
We outperforming red, the plant-based overall are energy category positioning Plus which reshaping is of the platform. single-serve VX our product and the VX portfolio around the
new focuses Our drink. brand on a story campaign VX master plant-power original for the as
early have to investment. pleased and space of with indications the right we this are own believe We this
Splash performance. stabilize While have to the but about early Meals feel to than in It's declines our efforts & team our days our the I our these Beverages confidence offset improvements, on business, continue more our far to thus they in improve with aligned and expectations. I progress good
X% sales discussed another last very with at that a X% segment includes our for market organic partner we increasing nearly result, This good quarter X%, headwind brands XX. Snacks look the quarter. in for by which Slide Let's was on the business offset
investment on which was while our power our quarter. profit making drive in our capture continue of in our targets, strong the nine We to prior marketing front-loaded plans Operating brands, strategy, integration steady as comparable further and me on team. and investments consumption confidence also first value progress both give the year to our we
We expect to the profit as our year performance improve unfolds.
trade eight behind of brands investments our we grew to across business The held investments nearly or our gaps. are Snacks maintain proven grew maintaining deploying X% brands the channels momentum off. up portfolio. again, power measured to These in our brands the power while pay are Marketing growth snack continued model, our nine grew Once X%. quarter. price is now across significantly consumption nine power investments full select Snacks Total in share with which
portfolio growth our rest the the brands nearly that power times versus two the business. differentiated are seeing brands portfolio driving invest these We snacks consumption focus and truly are of as the we on the behind
to portfolio organic the lead continued quarter well Farm perform sales with to way with continued of growth. increases its core business. XXth consecutive Goldfish Pepperidge The the on
buns growth business rolls, bread, swirl. behind continued and its bakery sandwich Our and
to performance our and our on with Marketplace Cod, well on growth marketing increased salty continued growth. and drove also was strong snacks where share double-digit investments Cape consumption brands, both late respond Snyder's to pretzels while we Kettle July,
sales brands the our are As partner our X%. impacting with in discussed line by performing expectations in last Snacks portfolio quarter,
We expect this throughout headwind 'XX. fiscal
continued satisfied remain synergies across on driving making value In look areas; quarter, related manufacturing. our XX. the the deliver in and and key closer consolidation and I around headquarters of efficiency with three Slide at we're a the capture additional take to the savings Let's our first we operations, of procurement our sales and operational progress. on packaging, integration pace progress the
against to and a we're savings initiatives year half these three off start. in expect the continue deliver to strong We first the to of
contribute Looking to our savings. to begin overall around initiatives expect logistics to the back to manufacturing half, and we
of the that the by both to continue a investments businesses. to unique and progress is excited I and of well differentiated very it combined I'm responding the summary, of Snacks view portfolio potential business. In advantage capabilities as and our our best
key Campbell. who joined for October Beekhuizen, capital as growth Mick's Campbell to Chobani CFO and improve after experience reposition are for will significant continue debt helped three company's profitable cash serving and growth. sustainable tremendous of both brings reduction the in and that, at to years a at in me With Campbell diverse introduce priorities let he where supported the we flow He its Mick which as expansion. past experience generation, structure asset be
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