Kraft Heinz Reports Decline in Sales Amid Inflation Pressures

The company's fourth-quarter earnings reveal a 9% drop in North American sales, attributing the slump to ongoing inflation and consumer budget constraints.

Kraft Heinz's fourth-quarter profit fell 15% year-over-year, with net sales down 7% to $6.9 billion.
Inflation and consumer budget pressures lead to a decrease in sales, as customers opt for value-conscious offerings.
The company plans to increase its product offerings at club stores by 20% in 2024 to cater to consumer demand for value.
Other food and beverage companies, including PepsiCo and Hershey, also cite inflation as a reason for slowing sales.
Kraft Heinz expects full-year earnings in the range of $3.01 to $3.07 per share, despite the sales dip.