Kraft Heinz Stock Drops As Higher Prices Eat Into Demand
Kraft Heinz(KHC) Investopedia·2024-05-02 00:15
Key TakeawaysKraft Heinz shares dropped after the company reported first-quarter results that missed analysts' estimates. The food and beverage giant said its sales and volume/mix dropped as higher prices dragged down demand.Kraft Heinz said the slide in its volume/mix was also hurt by the reduction of Supplemental Nutrition Assistance Program (SNAP) benefits in the U.S. Higher prices weighed on demand for Kraft Heinz (KHC) products, and shares dropped over 6% in early trading Wednesday after the food and ...