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Kraft Heinz, sales miss estimates and stock suffers

Wall Street opening at -1.3%: blame net sales attested at $6.72 bn (analysts expected $6.8 bn)

Kraft Heinz's sales miss estimates as price increases hit demand. The company itself said this, announcing that it missed quarterly sales estimates as inflation-hit customers bought fewer packaged meals and condiments, discouraged by rising product prices. Net sales rose to $6.72 billion in the quarter, up from $6.55 billion a year earlier: analysts had expected an average of $6.81 billion. The market...

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EFA News - European Food Agency
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