Kraft Heinz earnings hit by $3bn writedown
While Kraft Heinz's retail sales rose, the lockdown took its toll on its US and Canadian food service businesses
30 July 2020 - 20:47
Chicago — Kraft Heinz on Thursday said second-half core earnings growth would be weaker than expected and took a nearly $3bn charge on the value of several businesses, highlighting uncertainty in the food industry due to the novel coronavirus.
Shares of the Chicago-based company, which makes Philadelphia cream cheese and Kraft Singles, were down 4% in afternoon trading...
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