Kraft Heinz is expecting a rise in its first-quarter salesPublished by Terence Mahier | Source
You probably know Kraft Heinz from the emblematic Ketchup bottle and others "prepare-at-home food products" 🍅
The COVID-19 pandemic is harming parts of Kraft Heinz's business, but the overall impact on demand has been surprisingly positive 💪
In fact, organic sales are on track to rise by about 6% in the current quarter, due to very strong consumer demand. The CEO updated the market yesterday night, underlining the great execution of his team in ramping up production.
Who would have thought that the future of food would be Philadelphia Cheese, Ketchup and Mac&Cheese 😋
Kraft Heinz is up 5% in pre-market trading, what's next?
Kraft Heinz said the faster sales growth won't immediately translate into accelerated earnings gains because the company is seeing extra costs associated with ramping up production and distribution to meet unprecedented demand 📈
In a statement issued yesterday afternoon, the CEO of Kraft said the company had been working on a new strategy but the market will have to wait for more details as the company is focused on "getting our products from our plants to stores and onto consumers' tables" 🍽
First-quarter results will be announced on the 30th of April.
Yesterday was another weird session where the Dow Jones could not keep up with its initial jump and almost turn negative at the end of the day, bringing Kraft Heinz in its fall.
The stock eventually finished at +2.70% losing a part of its morning gains...
- Newspill Team 💊
08-Apr 03:48 (Eastern Time)
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