Kraft Heinz In Meltdown: 83,800 Cases Of Singles Recalled As Consumers Choke On Plastic Stuck To Cheese Slices
Portfolio Pulse from Nabaparna Bhattacharya
Kraft Heinz Company (NASDAQ:KHC) has voluntarily recalled approximately 83,800 cases of Kraft Singles American processed cheese slices due to a choking hazard from the wrappers. The issue arose from a temporary glitch in the company's wrapping machine, which left a thin strip of film on the slices. The company has fixed the machine and inspected all other processing machines. Kraft Heinz's shares are trading lower by 0.12% to $33.98.
September 21, 2023 | 1:50 pm
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NEGATIVE IMPACT
Kraft Heinz's recall of cheese slices due to a choking hazard could negatively impact the company's reputation and sales, potentially affecting its stock price.
Product recalls often lead to negative publicity and can impact sales, which in turn can affect a company's stock price. In this case, Kraft Heinz's recall of a significant number of cheese slices due to a choking hazard could lead to a decrease in consumer trust and potentially lower sales, which could negatively impact the company's stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100