The Rising Influence of Rising Affluence

[DewDiligence]

KHC déjà vu:

https://www.wsj.com/articles/kraft-heinz-books-1-22-billion-in-impairment-charges-11565267075

Kraft Heinz Co. KHC -11.13% reported falling sales and wrote down the value of its brands again, reflecting operational missteps as well as the enormous pressure on food giants to improve their products as consumers gravitate to newer alternatives.

Chicago-based Kraft Heinz said on Thursday that it had booked charges reducing the values of its assets by $1.22 billion for the first six months of its fiscal year.

…Kraft Heinz’s shares fell 14% to below $27. The stock is down 38% this year.