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Kraft Heinz Stock Falls After Higher Prices Hit Sales

·1 min

Kraft Heinz Reports Decline in Quarterly Sales

Kraft Heinz announced on Wednesday that its quarterly sales experienced a 1.2% decline. The decrease was attributed to weakening demand and higher prices in both the North American and international developed markets segments. The company stated that it raised prices on its products by 2.7 percentage points in an effort to counter its own rising costs. Factors such as increased prices for dairy, sweeteners, and coffee contributed to this decision.