1008 ET - Kraft Heinz lowers its financial guidance for the year, cutting its operating profit outlook on account of increased business costs, including tariffs and elevated inflation. Kraft Heinz executives say they are doing everything they can to minimize any price increases that may result from new tariffs, noting that the food maker had built inventory of some goods, and that they are looking into alternative sourcing for others. In some cases, like mac and cheese, executives said they may be able to reformulate products, though that takes longer. Kraft Heinz is also feeling pressure from higher prices for meat and coffee, pushing inflation to 5% of the company's cost of goods. (jesse.newman@wsj.com)
(END) Dow Jones Newswires
April 29, 2025 10:09 ET (14:09 GMT)
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