Kraft Heinz meets cost-cut target of $1.7 billion by 2017 end
Tweet
Share
E-mail
FILE PHOTO: A Heinz Ketchup bottle sits between a box of Kraft macaroni and cheese and a bottle of Kraft Original Barbecue Sauce on a grocery store shelf in New York March 25, 2015. REUTERS/Brendan McDermid/File Photo
Get Alerts KHC Hot Sheet
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 7.1%
Revenue Growth %: -4.1%
Join SI Premium – FREE
(Reuters) - U.S. food and beverage company Kraft Heinz Co (NASDAQ: KHC) had achieved the target of cutting $1.7 billion in costs by the end of 2017, the company said in a presentation on Thursday.
The fifth-largest food and beverage company in the world, which would announce its quarterly results on Friday, said it slashed its operating costs by over 5 percent since it acquired Kraft Foods Group in 2015. (http://bit.ly/2F6csIx)
Shares of the company, which owns brands such as Velveeta cheese and Heinz ketchup, closed up 1 percent on Thursday ahead of the presentation that it had announced earlier this week.
(Reporting by Vibhuti Sharma in Bengaluru and Chris Prentice in New York; Editing by Arun Koyyur)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Kraft Dinner Expands Beyond Mac n’ Cheese with All-New KD Ramen Lineup
- US judge blocks Trump administration SNAP restrictions on soda, candy
- UNAIDS chief urges US to reconsider South Africa funding cut
Create E-mail Alert Related Categories
ReutersSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
