Kraft Heinz Reports Weak Sales as New CEO Looks for Solutions
Kraft Heinz (NASDAQ: KHC) reported its fourth-quarter earnings results on Thursday, which showed weak business performance across the board. Organic net sales were down 2.2% year over year, while adjusted earnings declined by 14.3%. The U.S., Canada, and Rest of World regions saw a decrease in organic sales, while Europe, Middle East, and Africa reported a small increase of 0.3%.
In a statement, CEO Miguel Patricio said, "While our 2019 results were disappointing, we closed the year with performance consistent with our expectations and driven by factors we anticipated."
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Source Fool.com
