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Kraft Heinz Losing Tech Talent on E-Commerce Team Amid Culture Clash

Kraft Heinz Losing Tech Talent on E-Commerce Team Amid Culture Clash
businessinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessinsider.com Daily Mail and Mail on Sunday newspapers.

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Kraft Heinz: 'I feel good about our ability to deal with inflation' thanks to innovation, marketing, cost-savings

Kraft Heinz executives are confident they can manage anticipated inflation in the mid-single digit range across the portfolio this year by leveraging new product innovation and renovation, a quality over quantity approach to marketing and promotions, and ongoing cost savings initiatives, including SKU rationalization.
The company also may be better positioned than some for managing inflation because it has slowly increased pricing over the past year, which has contributed positively to its net sales in seven of the last eight quarters, US Zone President Carlos Abrams-Rivera told investors during the company’s first quarter call April 29.
“I feel good about our ability to deal with the inflation that we have and making sure we do this in a way that is positive for the company,” he said, noting much of it can be passed through to consumers. ....

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CPG giants reshape portfolios with significant divestitures, limited acquisitions

CPG giants reshape portfolios with significant divestitures, limited acquisitions
The great SKU rationalization last Spring caused by pandemic-related supply chain constraints and consumer stockpiling not only forced CPG companies to pause production temporarily of some products, but it prompted many to reevaluate their product mix and overall portfolios long-term – triggering an industry-wide reshuffling of brands that could reset the scoreboard in the coming years.
Executives of several large CPG players at the Consumer Analysts Group of New York 2021 virtual conference this week noted they were
“reshaping” their company portfolios to better meet evolving consumer shopping habits and demands during and after the pandemic – a process that for many means shedding under-performing brands or those that no longer fit within new focus areas. ....

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Carlos Abrams Rivera

One of the biggest food trends throughout the COVID-19 pandemic was an increase in at-home eating.
Despite the U.S. government ramping up the COVID-19 vaccine rollout, these trends aren t going away, Kraft Heinz Co (NASDAQ: KHC) President Carlos Abrams-Rivera said on CNBC s Squawk Box. Read More.
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Why Kraft Heinz is cutting products as sales keep growing

Reuters
Kraft Heinz confirmed Thursday that it plans to sell Planters to Hormel for $3.4 billion.
The deal marks one of the food company s largest efforts yet to remake its portfolio.
Last fall, Kraft Heinz said it would eliminate about 20% of its products and limit new ones.
Kraft Heinz is bidding adieu to Mr. Peanut.
The food giant said Thursday that it plans to sell its Planters nut business for $3.4 billion to Spam maker Hormel. The announcement confirms a report last week in The Wall Street Journal, which said that the two companies were discussing a potential deal and that it could be finalized this week. ....

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