THE KRAFT HEINZ COMPANY

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Real-time Estimate Cboe BZX  -  10:47 2022-08-19 am EDT
38.18 USD   -0.22%
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Mars stops supply of pet food to UK's Tesco - Bloomberg News

07/05/2022 | 01:16pm EDT
FILE PHOTO: A general view of Tesco Extra store sign, in Warrington

(Reuters) - U.S. food giant Mars Inc has stopped supplying two of its pet food brands to Britain's biggest supermarket group Tesco over price increases, Bloomberg News reported on Tuesday.

Mars has temporarily paused the supply of Whiskas and Pedigree brands, the report said, adding that the company's chocolate and confectionery products will remain on Tesco's shelves. (https://bloom.bg/3bWB8Ik)

The move comes a week after U.S. food giant Kraft Heinz had stopped supplying some products to Tesco, which resisted charging its customers higher prices for them at a time of surging inflation.

European retailers are locked in extended price negotiations with giant food companies as they fight to retain shoppers and protect their profits.

Mars and Tesco did not immediately respond to Reuters requests for comments.

(Reporting by Amna Karimi in Bengaluru; Editing by Shailesh Kuber)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
TESCO PLC -0.04% 270.7 Delayed Quote.-6.62%
THE KRAFT HEINZ COMPANY -0.08% 38.18 Delayed Quote.6.57%
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Analyst Recommendations on THE KRAFT HEINZ COMPANY
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Financials (USD)
Sales 2022 26 004 M - -
Net income 2022 3 246 M - -
Net Debt 2022 18 123 M - -
P/E ratio 2022 15,4x
Yield 2022 4,17%
Capitalization 46 885 M 46 885 M -
EV / Sales 2022 2,50x
EV / Sales 2023 2,45x
Nbr of Employees 36 000
Free-Float 63,0%
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Technical analysis trends THE KRAFT HEINZ COMPANY
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Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 20
Last Close Price 38,26 $
Average target price 42,82 $
Spread / Average Target 11,9%
EPS Revisions
Managers and Directors
Miguel Patricio Chairman & Chief Executive Officer
Andre Maciel Global Chief Financial Officer & Executive VP
Gregory Edward Abel Independent Director
John Charles Pope Lead Independent Director
Tim J. Kenesey Independent Director
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