Campbell Soup Company (NYSE:CPB) Q1 2023 Earnings Call Transcript

Mark Clouse: Well, I mean one, the top line was better, and that helps. I think there also as we as you go through, as you might remember, we were in the midst of executing a fairly significant Wave 3 pricing. And I think as you kind of go through that process, you’ve always got assumptions that as you execute, you may need a little less promotion in one area, maybe a little bit more effective in another area. Competition or price gaps may be a little different than what you anticipated. And so there’s always a bit of agility that goes into this. And actually, this is a muscle that I would say historically may not have been as strong as it is today. And so kind of making some of those decisions in real time is very much an important part of the tool bag right now. And so I think that combination of elements really kind of led to what I would say is a better kind of on paper, if you will, lower bps of spending than what we might have anticipated.

Operator: Ladies and gentlemen, this concludes today’s conference call. Thank you for your participation. You may now disconnect.