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00:02Kraft Heinz is investing $700 million to revive declining sales through new products,
00:08lower prices, and increased marketing, according to the Wall Street Journal.
00:13The food giant plans to introduce protein-infused Jell-O pudding,
00:17cheesy ramen, and other products targeting changing consumer preferences.
00:21About half of its 2027 product pipeline will focus on health and wellness.
00:26CEO Steve Cahillane expects sales to stabilize next year,
00:31followed by sales and profit growth in 2028.
00:34Analysts remain skeptical about the company's ability to revive struggling brands.
00:39Kraft Heinz shares have been roughly flat this year,
00:42compared with an 11% gain in the S&P 500.
00:45Kraft Heinz has also abandoned plans to split into two companies.
00:50Instead, Cahillane is considering acquisitions and divestitures
00:53to build a more growth-oriented portfolio.
00:56For all things money, visit Benzinga.com.
