Kraft Foods Group, Inc. announced financial results for the first quarter of 2014 that reflected the timing of several factors, including an expected shift in Easter-related product shipments to the second quarter of 2014.
Net revenues in the first quarter declined 3.3 percent to $4.4 billion. Organic net revenues declined 2.4 percent from lower volume/mix of 2.8 percentage points that was partially offset by 0.4 percentage points of higher pricing.
Volume/mix was negatively impacted by approximately three percentage points from a combination of Easter-related shipments shifting to the second quarter of this year and a normalization of retail customer inventories from higher-than-average levels at the end of 2013. Full report.