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

Kraft Heinz's quarterly profit beat powered by cost cuts

(Reuters) - Kraft Heinz Co (KHC.O), the maker of Velveeta cheese, Heinz ketchup and Oscar Mayer meats, reported a bigger-than-expected quarterly profit on Thursday as the company continued to cut costs amid weak demand in North America.

Shares of North America's third-largest food and beverages company were marginally up at $87.50 in after-market trading.

Kraft, which is targeting to cut $1.7 billion in costs by the end of 2017, said on Thursday that its selling, general and administrative expenses fell about 15 percent to $760 million in the second quarter ended July 1.

This is the fourth straight quarter of double-digit declines in selling, general and administrative expenses.

However, the company, which is...


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