Kraft Foods, the company behind brands such as Oscar Mayer and Miracle Whip, said Friday that it expects to report lower revenue for the fourth quarter while it raised its earnings forecast for this year.
“The fourth quarter was one of real progress and some significant disappointment,” Kraft CEO Tony Vernon told investors during a conference call Friday. “We made great strides in productivity, profit, and cash, but we really missed our topline.” But Vernon noted he feels good about the solid financial foundation for the future of the “new Kraft.” Kraft is looking to redefine itself after splitting last year from its global snack foods business called Mondelez International Inc.
News Tribune news services
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