By Siddharth Cavale (Reuters) - Kraft Heinz Co shares fell to a record low on Friday a day after the food company disclosed a $15 billion write-down on its marquee brands, raising concern that years of rigorous cost cutting have eroded the value of its Kraft cheeses and Oscar Mayer deli meats. Kraft's revenue growth has stagnated in the years since it merged with Heinz as consumers shun older, established brands for newer products, cheaper private label brands and non-processed and organic food.
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Saturday, 23 February 2019
Kraft Heinz shares fall 28 percent after writedown, dividend cut
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