May 2, 2018 / 8:12 PM / 3 months ago

Kraft Heinz quarterly sales slip, profit gets tax reform boost

CHICAGO, May 2 (Reuters) - Tater Tots-maker Kraft Heinz Co on Wednesday reported lower first-quarter sales, weighed down by weakening demand for processed foods in the United States.

The company, whose brands include Velveeta cheese and Heinz ketchup, said net sales slipped 0.3 percent to $6.30 billion in the first quarter ended March 31.

Net income rose to $993 million, or 81 cents per share, from $893 million, or 73 cents per share, a year earlier, primarily reflecting benefits from U.S. tax reforms.

Reporting by Richa Naidu in Chicago; Editing by Lisa Shumaker

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