Frozen Dinners Nixxed (Sign of More Time to Cook?)
Posted: Fri 06 Feb 2009, 15:52:02
Yeah, but how much is due to the recently unemployed having time to cook (plus less money for prepared foods?)Earnings Famine For Kraft, Sara Lee
Food makers trim their 2009 outlooks after posting weak quarterly profits.
Miriam Marcus
Forbes
February 4, 2009
Kraft Foods and Sara Lee are losing market share in their top business brand categories, according to one research report, and the food makers are trimming their outlook asconsumers turn to private-label brands in order to make their thin budgets last.
Kraft Foods (nyse: KFT - news - people ) posted a steep decline in fourth-quarter profits on Wednesday, missing Wall Street's expectations, as a stronger dollar squeezed international sales and U.S. consumers increasingly turned to less-expensive, private-label brands amid a weak economy.
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