UPDATE 4-Kraft Heinz withdraws outlook after dismal results
Kraft Heinz Co reported weak sales
on Thursday, prompting the maker of packaged foods to write down
the value of several business units by more than $1 billion and
drop its full-year forecast as it struggles to lure back
customers.
Shares fell to a record low as the Chicago-based company
marked a 12th straight quarter of lackluster sales.
Kraft Heinz, which counts billionaire Warren Buffett as its
second largest investor, has been battered by competition from
private-label bran
on Thursday, prompting the maker of packaged foods to write down
the value of several business units by more than $1 billion and
drop its full-year forecast as it struggles to lure back
customers.
Shares fell to a record low as the Chicago-based company
marked a 12th straight quarter of lackluster sales.
Kraft Heinz, which counts billionaire Warren Buffett as its
second largest investor, has been battered by competition from
private-label bran
Posted by Reuters
