- Panera Bread (PNRA +0.1%) is beginning to flex its muscles in the grocery store channel in what could be an increasing challenge to major food companies such as General Mills (GIS +0.2%), Campbell Soup (CPB -0.5%), Hormel Foods (HRL +0.2%), and Kraft Heinz (KHC +0.1%).
- Some analysts think that Panera's strong brand recognition with consumers as a healthy alternative gives it a chance to dent the dominance of canned soup and canned meat sellers.
- Campbell Soup CEO Denise Morrison was put on the defensive on the company's last earnings call about the threat from Panera and others in the chilled soup category.
- Morrison talked about the smaller base that Panera is growing from, but also conceded that the company would have to stay active in the fresh and organic categories - instead of just relying on its iconic brands.
- Campbell Soup earnings call transcript
- Previously: Panera Bread's clean commitment extends to grocery stores (June 15)