# EDGAR Filing Document

**Accession Number:** 0000016732
**File Stem:** 0000016732-25-000128
**Filing Date:** 2025-12
**Character Count:** 13224
**Document Hash:** ffeb5fa4cce1d3d71a04c9ff7e5b6bde
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000016732-25-000128.hdr.sgml**: 20251209

**ACCESSION NUMBER**: 0000016732-25-000128

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20251209

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251209

**DATE AS OF CHANGE**: 20251209

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CAMPBELL'S Co
- **CENTRAL INDEX KEY:** 0000016732
- **STANDARD INDUSTRIAL CLASSIFICATION:** FOOD & KINDRED PRODUCTS [2000]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 210419870
- **STATE OF INCORPORATION:** NJ
- **FISCAL YEAR END:** 0803

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-03822
- **FILM NUMBER:** 251557631

**BUSINESS ADDRESS:**
- **STREET 1:** CAMPBELL PL
- **CITY:** CAMDEN
- **STATE:** NJ
- **ZIP:** 08103
- **BUSINESS PHONE:** 8563424800

**MAIL ADDRESS:**
- **STREET 1:** CAMPBELL PL
- **CITY:** CAMDEN
- **STATE:** NJ
- **ZIP:** 08103

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CAMPBELL SOUP CO
- **DATE OF NAME CHANGE:** 19920703

?xml version='1.0' encoding='ASCII'? cpb-20251209

 **UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K** 

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d)**

**OF THE SECURITIES EXCHANGE ACT OF 1934**

**Date of Report**

**(Date of Earliest Event Reported):**

**December 9, 2025**![TCC-logo_V_red.jpg](cpb-20251209_g1.jpg)

**THE CAMPBELL'S COMPANY**

**(Exact name of registrant as specified in its charter)**

---

| | | |
|:---|:---|:---|
| **New Jersey** | **1-3822** | **21-0419870** |
| **(State or other jurisdiction of incorporation)** | **(Commission File Number)** | **(IRS Employer<br>Identification No.)** |

---

**One Campbell Place** 

**Camden, New Jersey 08103-1799**

**(Address of principal executive offices) (Zip Code)**

**Registrant's telephone number, including area code: (856) 342-4800** 

**Not Applicable**

**(Former name or former address, if changed since last report.)**

**Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:**

☐ **Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)**

☐ **Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)**

☐ **Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))**

☐ **Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-(c))**

**Securities registered pursuant to Section 12(b) of the Act:**

---

| | | |
|:---|:---|:---|
| **<u>Title of each class</u>** | **<u>Trading Symbol(s)</u>** | **<u>Name of each exchange on which registered</u>** |
| Capital Stock, par value $.0375 | CPB | The Nasdaq Stock Market LLC |

---

**Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2 of this chapter).**

**Emerging growth company** ☐

**If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐**

------

**Item 7.01 – Regulation FD Disclosure**

This Current Report on Form 8-K is being furnished to aid investors by providing supplemental information related to the retrospective impact of a change in segment reporting in fiscal 2026.

Unless otherwise stated, the terms "we," "us," "our" and the "company" refer to The Campbell's Company and its consolidated subsidiaries.

***Change to Historical Segment Results***

Beginning in fiscal 2026, the snacking and meals and beverages retail business in Latin America formerly included in our Snacks reportable segment is now managed as part of the Meals & Beverages reportable segment. In fiscal 2026, our reportable segments are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Meals & Beverages, which consists of soup, simple meals and beverages products in retail and foodservice in the U.S. and Canada. The segment includes the following products: *Campbell's* condensed and ready-to-serve soups; *Swanson* broth and stocks; *Pacific Foods* broth, soups and non-dairy beverages; *Prego* pasta sauces; *Pace* Mexican sauces; *SpaghettiOs* pasta; *Campbell's* gravies, beans and dinner sauces; *Swanson* canned poultry; *V8* juices and beverages; *Campbell's* tomato juice; and as of March 12, 2024, *Rao's* pasta sauces, dry pasta, frozen entrées, frozen pizza and soups; *Michael Angelo's* frozen entrées and pasta sauces; and *noosa* yogurts. The noosa yoghurt business was sold on February 24, 2025. The segment also includes snacking products in foodservice and Canada, and beginning in fiscal 2026, the snacking and meals and beverages retail business in Latin America; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Snacks, which consists of Pepperidge Farm cookies, crackers, fresh bakery and frozen products, including *Goldfish* crackers, *Snyder's of Hanover* pretzels, *Lance* sandwich crackers, *Cape Cod* potato chips, *Kettle Brand* potato chips, *Late July* snacks, *Snack Factory* pretzel crisps, and other snacking products in retail in the U.S. The segment included the results of our Pop Secret popcorn business, which was sold on August 26, 2024.

Attached as Exhibit 99.1 is recast historical quarterly and year-to-date unaudited financial information resulting from this change. The segment realignment only affects the manner in which the results for the company's reportable segments were previously disclosed. This Current Report on Form 8-K does not revise the company's previously reported consolidated financial statements for any period.

The information in this Item 7.01 and the Exhibit 99.1 attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

**Item 9.01 – Financial Statements and Exhibits**

(d) Exhibits

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | <u>[Recast historical quarterly and year-to-date unaudited financial information reflecting the change in segment reporting](exhibit991segmentrecastlat.htm)</u>. |
| 104 | The cover page from this Current Report on Form 8-K formatted in Inline XBRL. |

---

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**<u>SIGNATURES</u>**

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| | | **THE CAMPBELL'S COMPANY** |
| | | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Registrant) |
| &nbsp;&nbsp;&nbsp;&nbsp; Date: December 9, 2025 | By: | /s/ Todd E. Cunfer |
|  |  | Todd E. Cunfer |
|  |  | Executive Vice President and Chief Financial Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

**THE CAMPBELL'S COMPANY**

**Segment Information**

**<u>Recast for Change in Segments</u>**

**(millions)**

**(unaudited)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** |
|  | **October 27, 2024** | **October 27, 2024** | **October 27, 2024** | **January 26, 2025** | **January 26, 2025** | **January 26, 2025** | **January 26, 2025** | **January 26, 2025** | **January 26, 2025** |
| **<u>Fiscal 2025</u>** | **Meals & Beverages** | **Snacks** | **Total** | **Meals & Beverages** | **Snacks** | **Total** | **Meals & Beverages** | **Snacks** | **Total** |
| Net sales | $1739 | $1033 | $2772 | $1711 | $974 | $2685 | $3450 | $2007 | $5457 |
| Cost of products sold | 1175 | 725 |  | 1168 | 704 |  | 2343 | 1429 |  |
| Other segment items<sup>(1)</sup> | 221 | 172 |  | 247 | 161 |  | 468 | 333 |  |
| Segment operating earnings | $343 | $136 | $479 | $296 | $109 | $405 | $639 | $245 | $884 |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** | **Nine Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **April 27, 2025** | **April 27, 2025** | **April 27, 2025** | **April 27, 2025** | **April 27, 2025** | **April 27, 2025** | **August 3, 2025** | **August 3, 2025** | **August 3, 2025** |
| **<u>Fiscal 2025</u>** | **Meals & Beverages** | **Snacks** | **Total** | **Meals & Beverages** | **Snacks** | **Total** | **Meals & Beverages** | **Snacks** | **Total** |
| Net sales | $1493 | $982 | $2475 | $4943 | $2989 | $7932 | $1236 | $1085 | $2321 |
| Cost of products sold | 1040 | 690 |  | 3383 | 2119 |  | 842 | 766 |  |
| Other segment items<sup>(1)</sup> | 200 | 152 |  | 668 | 485 |  | 188 | 166 |  |
| Segment operating earnings | $253 | $140 | $393 | $892 | $385 | $1277 | $206 | $153 | $359 |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** |
|  | **October 29, 2023** | **October 29, 2023** | **October 29, 2023** | **January 28, 2024** | **January 28, 2024** | **January 28, 2024** | **January 28, 2024** | **January 28, 2024** | **January 28, 2024** |
| **<u>Fiscal 2024</u>** | **Meals & Beverages** | **Snacks** | **Total** | **Meals & Beverages** | **Snacks** | **Total** | **Meals & Beverages** | **Snacks** | **Total** |
| Net sales | $1434 | $1084 | $2518 | $1411 | $1045 | $2456 | $2845 | $2129 | $4974 |
| Cost of products sold | 954 | 754 |  | 951 | 734 |  | 1905 | 1488 |  |
| Other segment items<sup>(1)</sup> | 187 | 175 |  | 207 | 156 |  | 394 | 331 |  |
| Segment operating earnings | $293 | $155 | $448 | $253 | $155 | $408 | $546 | $310 | $856 |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** | **Nine Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **April 28, 2024** | **April 28, 2024** | **April 28, 2024** | **April 28, 2024** | **April 28, 2024** | **April 28, 2024** | **July 28, 2024** | **July 28, 2024** | **July 28, 2024** |
| **<u>Fiscal 2024</u>** | **Meals & Beverages** | **Snacks** | **Total** | **Meals & Beverages** | **Snacks** | **Total** | **Meals & Beverages** | **Snacks** | **Total** |
| Net sales | $1305 | $1064 | $2369 | $4150 | $3193 | $7343 | $1231 | $1062 | $2293 |
| Cost of products sold | 882 | 746 |  | 2787 | 2234 |  | 823 | 751 |  |
| Other segment items<sup>(1)</sup> | 187 | 158 |  | 581 | 489 |  | 190 | 159 |  |
| Segment operating earnings | $236 | $160 | $396 | $782 | $470 | $1252 | $218 | $152 | $370 |

---

------

**THE CAMPBELL'S COMPANY**

**Segment Information**

**<u>Recast for Change in Segments</u>**

**(millions)**

**(unaudited)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Twelve Months Ended** | **Twelve Months Ended** | **Twelve Months Ended** | **Twelve Months Ended** | **Twelve Months Ended** | **Twelve Months Ended** | **Twelve Months Ended** | **Twelve Months Ended** | **Twelve Months Ended** |
|  | **August 2, 2025** | **August 2, 2025** | **August 2, 2025** | **July 28, 2024** | **July 28, 2024** | **July 28, 2024** | **July 30, 2023** | **July 30, 2023** | **July 30, 2023** |
|  | **Meals & Beverages** | **Snacks** | **Total** | **Meals & Beverages** | **Snacks** | **Total** | **Meals & Beverages** | **Snacks** | **Total** |
| Net sales | $6179 | $4074 | $10253 | $5381 | $4255 | $9636 | $5022 | $4335 | $9357 |
| Cost of products sold | 4225 | 2885 |  | 3610 | 2985 |  | 3365 | 3078 |  |
| Other segment items<sup>(1)</sup> | 856 | 651 |  | 771 | 648 |  | 739 | 641 |  |
| Segment operating earnings | $1098 | $538 | $1636 | $1000 | $622 | $1622 | $918 | $616 | $1534 |

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______________________________________

<sup>(1)</sup> Other segment items for each of the reportable segments include marketing and selling expenses, administrative expenses, research and development expenses and expense for amortization of intangible assets.