kraft: Consumers, seeking healthier fare, have flocked away from famous products such as Heinz Tomato Ketchup, Jell-O and Kraft Macaroni & Cheese, according to The Guardian. We were overly optimistic on delivering savings that did not materialize, the Kraft Heinz chief executive Bernardo Hees conceded on a conference call with investors, after the company announced it would slash its dividend. The company, which has disclosed that in October it received a subpoena from the Securities and Exchange Commission SEC has been battling pressure on the value of its brands since it came into existence via a 49bn merger in 2015. Investor Warren Buffett's Berkshire Hathaway has been particularly hard hit, losing more than 4bn in a day as shares in Kraft Heinz plunged. Buffett's faith may be seen as a rare misstep. Kraft Heinz is one of Buffett's largest positions, with 325m shares at the end of 2018.
(news.financializer.com). As
reported in the news.
Tagged under kraft, cheese topics.