Feb 16 (Reuters) - Kraft Heinz Co’s quarterly revenue missed analysts’ expectations on Friday on weakening demand from retailers in the United States for processed foods such as peanuts and cheese.
The company, which owns brands such as Velveeta cheese and Heinz ketchup, said net sales inched up 0.3 percent to $6.88 billion in the fourth quarter ended Dec. 30.
Analysts on average were expecting revenue of $6.92 billion, according to Thomson Reuters I/B/E/S.
Kraft Heinz’s U.S. sales fell 1.1 percent to $4.79 billion, declining for the seventh straight quarter and also missing the $4.81 billion average estimate of two analysts. (Reporting by Vibhuti Sharma in Bengaluru; Editing by Savio D’Souza)