(Reuters) -Kraft Heinz ( KHC ) lowered its annual sales and profit forecasts on Wednesday, signaling persistent weakness in demand for its pricier snacks and pantry condiments from budget-conscious consumers amid macroeconomic uncertainty.

Shares of the company, which has said it would split into two with one focused on groceries and the other on sauces and spreads, were down about 1% in premarket trading.

Kraft Heinz ( KHC ) now expects 2025 organic net sales to fall 3% to 3.5%, compared with its prior target of a decline between 1.5% and 3.5%.

The company said the forecast incorporates the impact of slower growth in emerging markets, including declines in Indonesia, and pressure in U.S. retail.

Cost-conscious consumers have switched to cheaper store brands due to high inflation and economic uncertainty, weighing on packaged food makers in recent quarters.

The ketchup maker forecast annual adjusted earnings per share of between $2.50 and $2.57, compared with its prior expectation of $2.51 to $2.67.

The company reported a net sales decline of 2.3% to $6.24 billion in the third quarter ended September 27, compared with analysts' estimate of $6.26 billion, according to data compiled by LSEG.

(Reporting by Neil J Kanatt in Bengaluru; Editing by Sriraj Kalluvila)