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Mondelez International, the company behind well-known treats like Cadbury chocolates and Ritz crackers, has seen a bump in sales recently. However, they're feeling the pressure as costs go up and people start to tighten their belts, looking closer at how much they spend.
Impact of Price Increases on Consumer Demand
Mondelez, according to Reuters, reported stronger sales in the last part of the year, but that came with a catch. They had to raise prices, which meant people didn't buy as much as they used to.
Those delicious chocolates and tasty crackers might have gotten more expensive, and it seems like some shoppers decided to pass them by, leading to a bit of a drop in sales after the closing bell rang.
Yahoo noted that the trend that's really turning heads is in North America. The company shared that they sold significantly fewer goodies due to those higher prices and stores keeping less stock on hand. It's a change from just a bit ago, when things looked brighter.
Europe presents another hurdle with ongoing inflation, meaning that everyday stuff costs more and more. Because of this, the first few months of the year could be a bit rocky for Mondelez across the pond, where everyone's wallets are feeling the pinch.
Financial Results and Looking Ahead
Even with these challenges, Mondelez's overall sales have gone up compared to the same time last year. They made around $9.31 billion, which lines up with what finance experts thought they would. Their profits, though, weren't quite as high as before.
Looking to the future, Mondelez isn't just thinking about chocolates and crackers. They're also keeping an eye on global events, like the recent tensions in the Middle East, which can impact businesses like theirs.
As for what's next, the company hopes to see steady growth and aims for a good increase in profit per share, adjusted for any changes in currency values, once we say hello to 2024.
While enjoying a sweet treat might be simple, running a global snack business sure isn't. Mondelez is working out how to handle these speed bumps as they strive to keep our pantries stocked with our favorite snacks.
Photo: Cadbury Facebook Page
