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Campbell’s, struggling to grow its soup business, should jump on the Instant Pot craze, analysts say

Campbell Soup Co., which is struggling to grow its iconic soup business, might want to consider jumping on the Instant Pot craze with some of its other products, RBC Capital Markets analysts said Friday.

Campbell CPB, +2.56% reported sales of $1.2 billion in the meals and beverages category for the fiscal first quarter. Organic sales fell 5%, which the company attributed to the U.S. soup business, Prego pasta sauces and the Canada region.

On the earnings call this week, Keith McLoughlin, interim chief executive, said the company’s “top priority is to stabilize and improve the performance of [its] soup business.

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