Kraft Heinz raised its sales outlook for the year after higher prices lifted second-quarter revenue at a double-digit rate even as it sold fewer items.
Overall sales fell 0.9% to $6.55 billion, primarily due to divestitures and currency effects. Excluding those, the company said organic sales rose 10.1% in the period, with higher prices contributing 12.4 percentage points to the top line as the food giant sought to offset escalating costs. Sales topped analyst expectations for nearly $6.4 billion, according to FactSet.
