Campbell Soup to reorganize, shift focus from soup business

The company said the reorganization would shift its "center of gravity", a reference to its troubled soup business that has managed to boost sales only twice in the past five quarters. Weak sales prompted Chief Executive Denise Morrison to launch a turnaround program after taking office in 2011, spending hundreds of millions of dollars to revamp the company's marketing and packaging strategies. New product launches included "to-go" soups that could by made in a Keurig Green Mountain Inc (GMCR.O) coffee machine. Increasing competition from store brands, private labels and niche producers such as Pacific of Oregon, Harris Foods Co and Amy's Kitchen Inc, have also hurt the company's soup business.

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