Kraft Heinz Sales Dip as Lower-Income Consumers Feel Squeezed
KHCKraft Heinz(KHC) PYMNTS·2024-05-02 05:09

Cautious lower-income consumers and slower restaurant sales are squeezing Kraft Heinz. The packaged food product company on Wednesday (May 1) released earnings showing a 1.2% drop in sales, driven by lower-income consumers spending less at both the supermarket and on meals away from home. The company said it raised its prices 2.7% year over -year to offset the cost of goods such as coffee. “The gap between high and low earners continues to remain wide, and it shows a clear and continued bifurcation,” CEO Ca ...