Arnott’s is struggling.
Campbell Soup Co, which owns 150-year-old biscuit brand, yesterday released its latest financial results which showed a decline in sales for the business.
A number of recent attempts at innovating traditional products can be seen as contributing factor to the company’s woes.
Take the original Tim Tam for example.
670 million of these chocolate treats are eaten every year but recently Arnott’s decided to introduce a range of “mocktail” flavours aimed at women.
It was a non-starter in a flooded market, and sales came in flat.
“The overall Tim Tam brand has seen healthy growth in the last quarter and year-to-date,” a spokeswoman for Arnott’s told The Australian.
“The limited-edition Tim Tam mocktail-inspired range was a targeted launch designed to appeal to adult women. As a result, we have seen performance slightly lower than expected when compared to our previous special editions which were suitable for the whole family.”
Despite the failure chief executive Denise Morrison is still “encouraged by the launch of our new and improved Arnott’s Shapes crackers”.
But with recent public backlash to the new design, we think it’s unlikely.
The Australian has more.
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