News Formal

Kraft Heinz earnings hit by $3bn writedown

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 63%

Sverige Nyheter Nyheter

While Kraft Heinz's retail sales rose, the lockdown took its toll on its US and Canadian food service businesses

Bottles of Heinz tomato sauce made by US food company Kraft Heinz. Picture: REUTERS/ARND WIEGMANN

Higher employee bonuses, foreign exchange fluctuations and climbing commodity costs — particularly the price of cheese — are expected to soften second-half results, Kraft Heinz said. , which provide tomato sauce, mayonnaise and other products to restaurants, offices and school cafeterias. These units were included in a nearly $1.8bn writedown taken during the quarter.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 12. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Business Maverick: Total Takes $8 Billion Writedown on Carbon-Heavy Oil AssetsTotal SE announced an $8.1 billion writedown after the push to curb carbon emissions and the coronavirus pandemic challenged assumptions about the viability of some oil and gas assets and the timing of peak demand.
Källa: dailymaverick - 🏆 3. / 84 Läs mer »