Consumer
Oreo Cookie Maker Trims Outlook as High Cocoa Prices Erode Performance
Mondelez has raised prices due to the elevated cocoa costs, but said last month that growing conditions in West Africa appeared to be better than the previous year.
Photographer: Vincent Mundy/BloombergMondelez International Inc. cut its full-year outlook as high cocoa prices and cautious consumers weighed on the maker of Oreo cookies and Ritz crackers. The company said shoppers are under pressure and pulling back from snacks as they focus on essential goods.
Chicago-based Mondelez now sees organic sales growth rising 4% or more in 2025, a reduction from previous guidance of about 5% expansion. The company also expects earnings per share, excluding some items, to decline about 15% — deeper than the 10% decline it previously projected.