"Recession Proof" Companies Like Campbell Soup Not Performing As Well As Hoped
Given that Americans are embracing thrift, cutting corners and getting by on less, one could logically conclude canned-soup sales would be booming, as families opt to eat in rather than out. Logic, however, often fails.
According to the Wall Street Journal, consumer spending on food fell an inflation-adjusted 3.7% in the fourth quarter of 2008, the biggest drop since World War II. And it's not just that consumers are turning to lower-priced options - they're buying less, period.