January 9, 2004 |
Kraft Foods Inc. outlined a corporate overhaul to try to snap out of a protracted slump in sales and new products, reorganizing its business units and shifting to a more global focus as a way to become more nimble and better positioned for worldwide growth. The shake-up was announced by Chief Executive Roger Deromedi, who signaled his intent to take Kraft in a new direction just three weeks after being given sole control of the biggest U.S. food company.
July 25, 2006 |
Kraft Foods Inc. said second-quarter profit rose 44% after it increased prices on meats and coffee. Net income climbed to $682 million, or 41 cents a share, Northfield, Ill.-based Kraft said. Profit a year earlier was $472 million, or 28 cents, after the sale of candy operations to Wm. Wrigley Jr. Co. reduced earnings by 17 cents a share. Revenue grew 3.4% to $8.62 billion. Chief Executive Roger Deromedi was ousted June 26 after Kraft's results trailed those of rivals Kellogg Co.
October 19, 2005 |
Kraft Foods Inc. posted lower third-quarter earnings and cut its full-year profit outlook, pressured by rising costs for packaging, fuel and ingredients such as nuts. The maker of Oreo cookies and Jell-O pudding also said it was considering more price increases to try to offset rising costs. Kraft now expects commodity costs to be up $800 million from last year, more than three times its initial expectations. The largest U.S.
April 20, 2004 |
Kraft Foods Inc. on Monday said its first-quarter profit tumbled 34% amid continuing restructuring costs and sluggish sales volume at the nation's largest food company. Net income fell to $560 million, or 33 cents a share, down from $848 million, or 49 cents, for the same period in 2003. Excluding charges totaling 12 cents a share for restructuring, the company said earnings would have been 45 cents a share -- 2 cents better than the consensus estimate of analysts surveyed by Thomson First Call.
July 20, 2004 |
Kraft Foods Inc., the largest U.S. food maker, said Monday that second-quarter earnings fell 26%, their fourth straight drop, because of higher ingredient and marketing costs. The company cut its 2004 profit forecast. Net income declined to $698 million, or 41 cents a share, from $949 million, or 55 cents, a year earlier, the Northfield, Ill.-based company said. Sales rose 4.7% to $8.2 billion, helped by a weaker U.S. dollar.
June 27, 2006 |
Kraft Foods Inc. named Irene Rosenfeld as its chief executive Monday, replacing Roger Deromedi after a long period of sluggish results at the nation's largest food company. Rosenfeld most recently was chairwoman and CEO of Frito-Lay, a division of PepsiCo. Deromedi, a 28-year veteran of Kraft, had been sole CEO of the company since December 2003. He previously was co-CEO with Betsy Holden, who subsequently was removed and put in charge of global marketing.