DiGiorno, Oscar Mayer bolster Kraft results
Kraft Foods' U.S. Convenient Meals sector -- home to DiGiorno frozen pizza and Oscar Mayer meats -- was a bright spot in an otherwise challenging fourth quarter ended December 31, 2008. Kraft, Northfield, Ill., said the company's organic net sales grew 4.4 percent during the quarter while the company registered declines in both operating income and earnings per share.
Kraft said U.S. Convenient Meals' organic net revenues rose 10.7 percent reflecting both cost-driven price increases and "favorable product mix."
"The main contributors of revenue growth were DiGiorno and California Pizza Kitchen pizzas, including the launch of the 'For One' line of individual size pizzas," said Kraft, "as well as Oscar Mayer bacon and Oscar Mayer Deli Fresh Meats."
Kraft said U.S. Convenient Meals' organic net revenues rose 10.7 percent reflecting both cost-driven price increases and "favorable product mix."
"The main contributors of revenue growth were DiGiorno and California Pizza Kitchen pizzas, including the launch of the 'For One' line of individual size pizzas," said Kraft, "as well as Oscar Mayer bacon and Oscar Mayer Deli Fresh Meats."
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