Kraft Heinz raises forecasts, but turnaround efforts struggle to excite investors

Kraft Heinz raised its annual forecasts after beating quarterly sales estimates on Wednesday, but investor doubts about new CEO Steve Cahillane’s turnaround efforts sent shares down about 4 per cent in afternoon trade.

Kraft Heinz raises forecasts, but turnaround efforts struggle to excite investors  Reuters

The packaged-food company now expects organic sales to fall 0.5% to 2.0% for the year, an improvement from its prior outlook