Despite profit gains, Kraft Heinz has failed to crack the code on consistent sales growth to date.
It’s no secret Kraft Heinz has proven deftly able to harness efficiencies, the fruits of which were again evident in the third quarter, with adjusted operating margins expanding 100 basis points to nearly 28%. However, our contention has been cost cuts are only a portion of the algorithm, and ultimately insufficient to reignite its top line, which ticked up just 0.3%, as a 50-basis-point increase in prices was offset by declining volumes and unfavorable mix. While this was a sequential improveme...
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