Kraft Foods Group Q1 2014 Net Revenues Down 3.3 Percent

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.