Why Kraft Heinz Stock Slipped Today
Shares of Kraft Heinz (NASDAQ: KHC) were sliding again today after the packaged food giant issued a disappointing fourth-quarter earnings report, showing that management was still struggling to turn the business around. As of 2:01 p.m. EST, the stock was down 7%.
Kraft Heinz said organic sales, which strip out the impact of divestitures, acquisitions, and foreign currency, fell 2.2% despite a 2% price increase overall. Sales volume and mix together fell 4.2%, showing the company's brands are losing market share.
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Source Fool.com
