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Actionable news in KHC: THE KRAFT HEINZ COMPANY COMMON STOCK,

Kraft Heinz Should Go After Unilever Again After Earnings Miss

Kraft Heinz Co.'s (KHC) net sales below analysts' expectations underscores the company's need for a new deal.

For the quarter ending July 1, the food giant, backed by Brazilian private equity firm 3G Capital and Berkshire Hathaway Inc. (BRK.B) , reported net sales of $6.7 billion, down 1.7% year over year, while earnings of 98 cents per share represent a 15.3% increase from the same period last year. Analysts polled by FactSet expected earnings of 95 cents per share on sales of about $6.73 billion.

Net sales fell 1.2% in the United States, 6.4% in Canada and 4.9% in Europe, rising 1.6% in the rest of the world. Volumes were down 0.5% overall, with the United States and Europe both reporting volume declines of 0.8%.

It's a tough environment for U.S. packaged food companies as they grapple with changing consumer tastes, with Conagra Brands Inc. (CAG) , Campbell Soup Co. (CPB) and General Mills Inc. (GIS) all flat over the past month. Kellogg (K) shares closed up 4.3% to $70.36 on Thursday after reporting profit growth driven by cost...


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