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Articles by Annie GasparroWsj
Kraft Heinz Says Probe Delayed Financial Report
By Annie GasparroWSJ Thu., Feb. 28, 2019 Kraft Heinz Co. said Thursday it would be late in filing its annual report with securities regulators as it concludes an internal investigation into its procurement department. Last week, the food giant said it had been notified by the Securities and Exchange Commission in October that regulators were investigating accounting practices of that department, and that it had conducted its own investigation with the help of outside legal and accounting advisers.
Campbell Shows Signs of Turnaround
Campbell Soup Co. made progress in its effort to reignite growth after a tumultuous year. The food maker said on Wednesday that comparable sales were flat in the latest quarter as gains for Pepperidge Farm Goldfish crackers offset continued weakness in condensed-soup sales. However, Campbell’s gross profit margin slipped as it spent more on promotions for its brands and faced higher costs for transporting products.
Food Makers Are in Spotlight After Kraft's Dismal Results
J.M. Smucker Co. said stronger sales of Jif peanut butter snacks, Uncrustable sandwiches and coffee made up for weakness in its pet-food business in its latest quarter. Shares rose 7% Tuesday morning after Smucker’s revenue and profit beat analyst expectations for the quarter.
Kraft Heinz Discloses SEC Probe, Misses Earnings Forecasts
Kraft Heinz Co. on Thursday wrote down the value of its Kraft and Oscar Mayer brands by $15.4 billion, disclosed an investigation by federal securities regulators and slashed its dividend, sending its stock down nearly 20% after hours.
Food Makers Invent Brands for Only Amazon to Sell
To build a big line of exclusive products on its site, Amazon.com Inc. is pushing other brand manufacturers to do most of the work. The online retail giant is asking consumer-goods companies to create brands exclusively for Amazon after finding that developing them on its own is too costly and time-consuming, according to people familiar with the strategy.
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