Consumer
Kraft Mac and Cheese Sales Take a Hit After Cuts to Food Stamps
- Dollar Tree also says sales slowed as benefits were reduced
- Mac and cheese challenged by ‘SNAP exposure,’ Kraft CEO says
t Kraft Heinz Co. cited the reduction in benefits as a major headwind that the company and the industry faced in 2023.
Photographer: Tiffany Hagler-Geard/BloombergThis article is for subscribers only.
It’s been just about a year since the US government slashed additional pandemic-related food-stamp benefits, and some of the companies that make and sell food are seeing that hit their sales.
Food companies have been reporting volume declines for more than a year now, making up for lost sales with price hikes. As consumers have cut back on food purchases, explanations have included using up more of what’s already in the pantry and switching to stores’ private-label products. But recent comments point to a more fundamental problem for low-income shoppers.