Rosenfeld leads company to 11% Increase in 3rd quarter profit…
October 24th, 2006Kraft’s profit was up 11% as announced this afternoon, according to a Reuter’s online report. Everyone one is waiting for the analysts and Irene Rosenfeld, the company’s president, as well as the company’s parent company Altria Group, Inc. to speak before writing their articles or so says the Reuter’s report. Reuter’s did speculate though that closing plants and selling off some brands helped keep lower than expected sales growth from being overshadowed by higher energy costs and the cost of wheat.
Of course, they didn’t mention the increase in Jack’s Pizza, Maxwell House Coffee or Kraft’s Colby Cheese that came after I finished writing that article about Irene Rosenfeld for the Northfield Insider. I seemed to notice Kraft products more after writing that article. Not only did I notice them more–I bought them more, too. I have been eating so much cheese that I am going to have to get my cholesterol checked soon. Buying Kraft products is what psychologists call resolving one’s cognitive dissonance, I guess.
Reuters also mentioned that Kraft sold off Minute Rice, and that their expected annual profit is expected to be between $1.86 and $1.89 a share. I guess we will have to wait until tomorrow or Sunday to see what the Trib says about it, huh?
By Flo Crew
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