Americans Move Toward Fresh Produce, Kraft Heinz Suffers Weak U.S. Revenue
Shares of Kraft Heinz Co. slipped in extended trading session on Wednesday after the confectionery, food and beverage conglomerate reported weak sales in the U.S. which reflects the fact that the firm has been struggling with an increasing number of Americans who prefer healthier, non-processed foods than traditional preservative-heavy packaged foods.
Kraft Heinz’s shares dropped 1.61 percent to trade at $76.45 in the after-hours trading session on Wednesday after the food giant post a decline of 0.4 percent in revenue for the third quarter in the U.S. – its most critical market.
For the three-month period ended September, the company reported earnings of $944 million, or 77 cents a share, up 12 percent from $842 million, or 69 cents a share, in the year earlier period. Adjusted for non-incurring items, EPS reached 83 cents a share, beating analysts’ expectations of 82 cents
Sell Stop at 76.40, Take profit at 75.80, Stop loss at 76.70