Reported 2 days ago
Kraft Heinz revised its full-year sales and earnings outlook downward, attributing the change to reduced consumer spending in the U.S. and the effects of tariffs imposed by the Trump administration. Other major food companies, like PepsiCo and Coca-Cola, have similarly reported challenges stemming from trade tensions and weak demand. Kraft Heinz plans to minimize price increases to maintain market share against cheaper alternatives while also exploring supplier shifts and production reformulations. The company recorded a 6% drop in net revenue to $5.9 billion for the January-March period, falling short of Wall Street expectations.
Source: YAHOO