Tuesday , August 9 2022

Kraft Heinz is leading by new consumer habits



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WASHINGTON (awp / afp) – Kraft Heinz, the great American food, well known for its cake and spray, has revealed a huge depreciation that has shellged its red accounts in the fourth quarter, as well investigating the US market authority calculated.

The news joined the share of Wall Street, 27.46% to 34.85 dollars, its lowest level since the merger between Kraft Foods and Heinz mid-2015. This is the worst trading session of the group in four years.

The group of snacks and products that have been processed by the US, one of the most famous in the United States, said that Thursday's Thursday was quarterly results that it had spent a depreciation cost of $ 15.4 billion on both leading brands, Kraft and the Mayer Oscar products.

This depreciation reflects a change in consumer, which is increasingly concerned about health issues and turns more often to fresh produce at the expense of foods that have been processed.

Kraft has built its reputation on products such as ready to eat macaroni and cheddar appetizer sauces, while Oscar Mayer is known for hot meat and dog foods.

After birth of the Heinz and Kraft Foods groups, group management shareholders include American Buffett Warion and Jorge Paulo Lemann (head of the 3G investment fund).

Not trying to match another consumer concern, Kraft Heinz announced the environment last year that he wanted all the packages to be recycled and re-used by 2025.

SEC Inquiry

The massive depreciation led to a net loss of $ 12.6 billion. When dividing and adapting, the group announced a quarterly profit of 84 cents, lower than the forecasts of analysts. The sales rose slightly from 0.7% to $ 6.9 billion over the last three months of 2018.

"Our profitability was lower than expected due to unexpected inflation of some costs, plus lower savings than expected," the CEO was awarded the Bernardo Hees group, in the statement of results.

The group also noted that it was receiving applications in October 2018 for information from the US Contract Authority, the SEC, who initiated an inquiry into procurement, "more specifically its internal practices, procedures and controls related to the accounting of its supplies ".

Kraft Heinz says that she has started an internal survey of these activities, with the help of external advisers. In the fourth quarter, as a result of these investigations, the group recorded "product cost increases of $ 25 million" and of the opinion that they were not significant.

It is set to put "internal control improvements" in place to solve these problems. "The group continues to work fully with the SEC" and it does not expect the sequence to these investigations to have a significant effect on the period current or any previously published financial accounts ".

dw-ell-Jum / AB

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