I’m not a big fan of the consumer staples. Due to higher inflation, higher interest rates, consumer staples get hit because they use and convert raw materials into a finished good that you and I use as consumer. As a result, their input costs go up, directly affecting their top line sales. In addition, the consumer staples companies can’t pass on their higher cost to us in fear of losing more business.
Kraft Heinz Co shares fell to their record low after the food giant announced a multi-billion dollar write-down due to eroding value of its Kraft and Oscar Mayer products
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