Kraft Heinz forecasts slower annual sales growth on weak demand

Consumers shifting way from name brands towards quality lower-priced options, analysts say

Shares of the company fell over 5%, with several analysts calling the earnings report 'underwhelming'.

Kraft Heinz forecast its annual core sales to grow at a slower pace, after posting a steeper-than-expected drop in quarterly sales, a sign demand for its sauces and meat cold cuts would remain muted as customers digest past price hikes.

Shares of the company fell over 5%, with several analysts calling the earnings report "underwhelming".