1259 ET - Mondelez International's organic sales in North America slid around 4% in 1Q as U.S. retailers cut down their inventories and consumer demand slowed, CFO Luca Zaramella says on a call with analysts. Zaramella says that dynamic is consistent with the rest of the market and is mostly fueled by lower frequency from lower income households. Such consumers are shifting to smaller snack packs while higher income consumers shift to larger packs for value, CEO Dirk Van de Put says. He says U.S. consumers in general are prioritizing essentials, weighing on the company's snack categories including biscuits, which posted softer-than-expected growth in the quarter. (kelly.cloonan@wsj.com)
(END) Dow Jones Newswires
April 30, 2025 12:59 ET (16:59 GMT)
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