US food group Campbell Soup has said that its performance in emerging markets has not been hit by the global economic downturn.
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Campbell, which has been expanding in Russia and China since 2007, indicated that it hopes to gain market share in these countries.
Speaking to investors yesterday (9 December), president and CEO Douglas Conan said: “We have an opportunity to establish a pre-eminent position in both markets.”
Chief financial officer Craig Owens added that Campbell has not seen sales in emerging markets slow despite difficult economic conditions.
The relatively new and small-scale businesses are able to be “nimble”, reacting speedily to market changes, Owens said in the webcast presentation.
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By GlobalData“We haven’t seen a significant slowdown in our very small businesses to date,” Owens said.
