date:Jul 31, 2014
e in a quarter that reflected a rare confluence of events, Chief Executive Officer Tony Vernon said on a conference call with analysts.
Kraft, like others in the packaged food industry, is dealing with a tough environment as consumers look to save money and increasingly shop for healthier products.
The company lowered prices through Easter, Memorial Day and July 4th promotions on products like Velveeta dinners and Capri Sun drinks, leading to a decline in revenues in the company's meat and des