WASHINGTON. The US packaged meals massive Kraft Heinz has launched a $15.4 billion write down on a couple of of its most iconic producers, reflecting an enormous change in what of us want to eat.
In its fourth quarter earnings report, the company said Thursday that the write-down resulted in a web lack of $12.6 billion.
The company moreover launched it was subpoenaed late last 12 months by the Securities and Commerce Price over its procurement procedures.
All this and weak fourth quarter earnings figures introduced in regards to the stock worth to be down virtually 21 per cent after frequent shopping for and promoting concluded.
Kraft Heinz said the write-down decrease the stability sheet price of United States and Canadian operations and the famed Kraft and Oscar Mayer emblems.
US data retailers said it appeared to stem from shifting shopper preferences in favour of up to date merchandise over processed ones like Kraft Heinz classics such Oscar Mayer scorching canines and Cheez Whiz.