July 30 (Reuters) - Kraft Heinz ( KHC ) on Wednesday
posted a smaller-than-expected drop in sales for the second
quarter, helped by resilient demand for its frozen meat cuts and
ready-to-eat meals in the United States as consumers tried to
stretch their household budgets.
A mix of sticky inflation and heightened economic
uncertainty has forced people to cook more affordable meals at
home, helping demand for some of Kraft Heinz's ( KHC ) products such as
its frozen meals, chilled meats and other pantry staples.
The Jello maker has also raised prices for some of its
products such as coffee and meats to offset the higher costs of
those commodities.
The company's shares rose about 1% in premarket trading.
They have fallen about 7% so far this year.
Its quarterly net sales fell 1.9% to $6.35 billion, compared
with analysts' average estimate of a 3.35% fall to $6.26
billion, according to data compiled by LSEG.
(Reporting by Juveria Tabassum in Bengaluru; Editing by Devika
Syamnath)