Q2 cheese revenues rise at Kraft; net revenues for the company down 1.1%
In the company's Cheese Segment, revenues increased from a combination of higher prices, volume gains and improved product mix with significant gains in Kraft natural cheeses and Velveeta
Kraft Foods Group, Inc. Northfield, Ill., reported today that net revenues in the second quarter declined 1.1% to $4.7 billion and that operating income increased 53.5% to $1.4 billion in the period.
In the company's Cheese Segment, revenues increased from a combination of higher prices, volume gains and improved product mix with significant gains in Kraft natural cheeses and Velveeta. Operating income declined slightly due to unfavorable pricing net of commodity costs versus an exceptionally positive prior year period.