Campbell's to Shed Chocolatier

Soup shop hopes to sell distracting Godiva
By Heather McPherson,  Newser User
Posted Aug 9, 2007 12:31 PM CDT
Campbell's soups are displayed on the shelves of a grocery store, in this Feb. 16, 2007 file photo, in Danvers, Mass. Campbell Soup Co., the world's largest soup maker, said Monday, May 21, 2007 fiscal...   (Associated Press)
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(Newser) – Campbell's may be trimming some fat from its budget: Bloomberg reports the food company is looking to sell the luxe Godiva brand, which is weighing down on the more wholesome corners of its pyramid. Campbell's is intent on slurping up new markets in Russia and China, and the sweets trade—7% of the iconic soupmaker's business—may be a distraction.

"The premium chocolate business does not fit with Campbell's strategic focus on simple meals," Campbell's CEO says. The company's shares are down 5% this year, and the cost of advertising is particularly bittering Campbell's execs on Godiva: chocolate profits are meager even as Campbell's other products are booming.