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☆ Instacart is betting on Google to supercharge its ad-selling business
▼ + stars: | 2024-01-09 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +1 min

Instacart is opening up its ads program to sell targeted Google ads. Instacart's shopper data will be used to target the ads to specific groups of shoppers. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Under the deal, Instacart will use Google Shopping ads to get consumers to buy products from Kraft Heinz, Danone, and others on its platform. Instacart will use its own shopper data to target consumers so it can, for instance, send an ad for Kraft Heinz's Philadelphia Cream Cheese to a repeat Instacart shopper searching for cream cheese on Google.

Persons: — Organizations: Service, Google, Kraft Heinz, Danone, Kraft Heinz's, Business Locations: Kraft Heinz's Philadelphia

☆ Kraft Heinz lifts annual profit target as price hikes boost margin
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +1 min

Bottles of Heinz Tomato Ketchup, a brand owned by The Kraft Heinz Company, are seen in a store in Manhattan, New York, U.S., November 11, 2021. REUTERS/Andrew Kelly Acquire Licensing RightsNov 1 (Reuters) - Kraft Heinz (KHC.O) beat Wall Street estimates for third-quarter profit and raised its annual forecast as the Jell-O maker's margins benefited from higher prices of its packaged meals and condiments. Kraft's prices increased by 7.1 percentage points for the quarter, boosting its adjusted gross margin by 396 basis points to 34%. However, the higher prices took a toll on demand from inflation-hit customers, sending Kraft's overall volumes down 5.4 percentage points even as organic net sales grew 1.7%. The Philadelphia Cream Cheese maker forecast full-year adjusted profit in the range of $2.91 to $2.99 per share, compared with its previous range of $2.83 to $2.91.

Persons: Andrew Kelly, Kraft Heinz, General Mills, Savyata Mishra, Mary Manoj, Devika Organizations: The Kraft Heinz Company, REUTERS, Kellogg, Cola, Philadelphia Cream, Thomson Locations: Manhattan , New York, U.S

☆ Kraft Heinz picks new CEO as sales slump in the face of higher prices
▼ + stars: | 2023-08-14 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Kraft Heinz 's North American president will become CEO of the food giant next year, the company announced Monday. Carlos Abrams-Rivera will take the reins Jan. 1 from Miguel Patricio, who has led Kraft Heinz since 2019. Kraft Heinz shares have fallen 15% this year, dragging its market value down to $42.2 billion. "Since joining Kraft Heinz in 2020, [Carlos] has consistently delivered strong results in the North American retail and Away From Home businesses," Patricio said in a statement. Ahead of the CEO transition Jan. 1, Abrams-Rivera will become president of Kraft Heinz, adding new responsibilities to his current role.

Persons: Kraft Heinz, Carlos Abrams, Rivera, Miguel Patricio, Patricio, Oscar Mayer, Maxwell, Abrams, Campbell, Carlos Organizations: Kraft, Cream, North Locations: California

☆ Papa Johns’ prices are driving some customers away
▼ + stars: | 2023-08-03 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +5 min

New York CNN —Consumers are pulling back on discretionary spending, and Papa Johns is taking a hit. Lynch joined Papa Johns (PZZA) in 2019. The vast majority, roughly 2,900 out of about 3,400 total North American Papa Johns restaurants, are franchised, according to the company. Sales at Papa Johns locations open at least a year fell in the second quarter. But now, they’re pushing back – and not just at Papa Johns.

Persons: Papa Johns, ”, Rob Lynch, “, we’ve, I’ve, Lynch, American Papa Johns, Luke Sharrett, Papa, Kraft Heinz, Oscar Mayer, Kraft, Miguel Patricio, ” Patricio, George Frey, James Quincey, Steven Cahillane, “ We’re, ‘, ’ ”, ” Lynch, it’s Organizations: New, New York CNN, American Papa, Papa Johns, Bloomberg, Kraft Mac, Kraft Locations: New York, Papa Johns, Capri Sun, Philadelphia, Europe

☆ Kraft Heinz lifts profit outlook on price hikes, easing costs
▼ + stars: | 2023-05-03 | by ( Aatrayee Chatterjee | ) www.reuters.com time to read: +2 min

(Reuters) -Kraft Heinz Co raised its full-year profit forecast on Wednesday on the back of higher prices and sustained demand for its packaged food items as raw material costs, which have plagued the industry, also ease. FILE PHOTO: A Heinz Ketchup bottle sits between a box of Kraft macaroni and cheese and a bottle of Kraft Original Barbecue Sauce on a grocery store shelf in New York March 25, 2015. REUTERS/Brendan McDermid/File PhotoShares of the Philadelphia Cream Cheese maker were up 3.9% in early trading after it also reported better-than-expected quarterly results. The strong outlook echoes comments from peers PepsiCo Inc and Mondelez, who have also lifted annual forecasts supported by price increases. Excluding one-off items, Kraft Heinz earned 68 cents per share, topping analysts’ estimate of 60 cents per share, according to Refinitiv IBES data.

☆ Behold the stuffed crust bagel
▼ + stars: | 2023-04-13 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +3 min

Now, Philadelphia cream cheese and H&H Bagels, a New York City-based bagel shop, are trying to please the carbohydrate- and dairy-loving communities with a new and dubious spin on the stuffed crust: The bagel stuffed with cream cheese. But unlike stuffed-crust pizzas, the bagel is filled with cheese after it is baked, making it more of a cream cheese bagel donut, if not in spirit then at least in form. What’s so wrong with slicing a bagel and slathering on a healthy amount of cream cheese? New York doesn’t have a specific bagel tax, explained Ryan Cleveland, a representative of the New York State Department of Taxation and Finance. Philadelphia cream cheese, which struggled with shortages in the past, turned that issue into a marketing opportunity as well.

☆ Kraft Heinz issues soft profit guidance after price increases boost revenue
▼ + stars: | 2023-02-15 | by ( Noah Sheidlower | ) www.cnbc.com time to read: +2 min

Kraft Heinz Co. is scheduled to release earnings figures on July 27. Kraft Heinz on Wednesday beat Wall Street's earnings and sales expectations, but offered soft profit guidance for the year, a sign of rising pressure from higher costs. Kraft Heinz boosted pricing 15.2% with a 4.8% decline in volume. Despite beating on revenue and EPS, Kraft Heinz earnings contrast with companies such as Oreo maker Mondelēz International , which saw little demand pushback despite price increases. Kraft Heinz launched a campaign titled "LVII Meanz 57," protesting the use of Roman numerals, ahead of Super Bowl 57.

☆ I live in a town of 1,100 people. Inflation has changed the way I grocery shop — here's how.
▼ + stars: | 2023-01-28 | by ( Robin Madell | ) www.businessinsider.com time to read: +4 min

I live in Altamont, Tennessee, a small rural town with a population of around 1,100 people. The closest grocery stores we have near us are The Dollar Store and Piggly Wiggly, which are walking distance from my house. I usually buy a protein like chicken or beef, vegetables like broccoli or Brussels sprouts, and occasional carbs like potatoes. If I buy beef, that will usually put my bill over my $100 weekly limit. The cost of Starbucks ground French roast that I buy from the grocery store has increased by more than 50%, from $6 to $10.99 per 12-ounce bag.

☆ The wild success of Walmart's generic cream cheese perfectly encapsulates the problems with the American economy right now
▼ + stars: | 2022-12-09 | by ( Alex Bitter | Ben Tobin | ) www.businessinsider.com time to read: +4 min

Walmart's cream cheese was one of the fastest-growing brands of 2022, according to Morning Consult. It was cream cheese from Walmart. Store-brand cream cheese isn't a typical contender for most popular product, said Emily Moquin, food and beverage analyst at Morning Consult. Philadelphia is the market leader in cream cheese, Morning Consult's Moquin said. "That is partially why we see this very specific category of cream cheese being on the list."

☆ Philadelphia is launching a plant-based cream cheese
▼ + stars: | 2022-12-06 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +5 min

New York CNN Business —Philadelphia Cream Cheese is launching a non-dairy version of its signature spread. The plant-based cream cheese is now available at grocery stories in Atlanta, Houston, Miami and other locations in the Southeast, with a wider rollout planned for summer 2023. Philadelphia's plant-based cream cheese is available in the Southeast. According to data from IRI, only about 41% of households who buy plant-based cream cheese make a second purchase within the year. “It’s just easier to forgo cream cheese and cheese … than it is to forgo meat,” he said.

☆ Kraft Heinz turns to gimmicks and nostalgia to revive its ‘dusty’ brands
▼ + stars: | 2022-11-15 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +10 min

Because they’re incredible.”More than half of Kraft Heinz’s business comes from just eight brands — the aforementioned three, plus Kraft Mac and Cheese, Philadelphia Cream Cheese, Heinz, Lunchables and Ore-Ida. For Kraft Heinz, which is relying on Patricio to execute a comeback, there’s a lot on the line. So we have more loyalty.”For that reason, Kraft Heinz has leaned in to promoting its legacy brands — and with sometimes outrageous marketing. Kraft HeinzOther Kraft Heinz brands have also used attention-grabbing marketing campaigns. Kraft Heinz’s brands now have a presence on gaming platforms like Roblox, in addition to social media channels and other platforms.

☆ Kraft Heinz beats quarterly estimates as prices soar
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +1 min

Oct 26 (Reuters) - Kraft Heinz Co (KHC.O) beat third-quarter sales and profit estimates on Wednesday, benefiting from price increases in the face of rising costs for its packaged foods and condiments. Shares of the Jell-O and Philadelphia Cream Cheese maker rose 3.5% in premarket trading as the company also reaffirmed its full-year sales and profit guidance. Kraft said average selling prices rose 15.4 percentage points in the quarter, which partly dented sales volumes that fell 3.8 percentage points. The company's net sales rose to $6.51 billion in the third quarter from $6.32 billion a year earlier. Reporting by Mehr Bedi and Granth Vanaik in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

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