North America

Kraft Heinz Forecasts Bleak Annual Profit As High Prices Hurt Demand

Kraft Heinz forecast annual profit below estimates and missed quarterly sales estimates as it struggled with demand due to price hikes.

Coca-Cola’s limited edition flavours and price hikes powered a surprise rise in quarterly revenue amid sluggish demand in the industry.

General Mills said it would buy Whitebridge Pet Brands’ North American pet food business in a $1.45 billion deal to broaden its portfolio.

WK Kellogg bear Wall Street estimates for third-quarter revenue and profit on Thursday, driven by strong demand despite price hikes.

Mondelēz International beat third-quarter revenue and profit estimates on Tuesday on a rebound in demand and higher prices.

PepsiCo posted a surprise drop in third-quarter revenue and cut its forecast for annual sales growth as cautious spending hurt demand.

Barry Callebaut has halted production at one of its Mexican plants after it found that it did not meet quality standards.

Nestlé lowered its sales outlook on Thursday, slowing the pace of price hikes sooner than hoped due to increasingly cost-conscious consumers.

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