Retail

Kraft Heinz (KHC) earnings Q3 2019 beat estimates

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Kraft and Heinz products

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Kraft Heinz on Thursday reported quarterly earnings that topped analysts’ expectations, but sales continued to decline as executives formulate a turnaround plan.

Shares of the company jumped 11.3% in morning trading. As of Wednesday’s close, shares were down by about 33% this year, giving the food company a market value of $34.8 billion. 

“While our third-quarter results remain below our potential, we showed sequential improvement versus the first half, and I believe we are beginning to operate the business better,” CEO Miguel Patricio said in a statement. “We are making good progress in identifying and addressing the root causes of past…



Source cnbc.com

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