Sales at major U.S. food companies hit by pandemic-induced curbs

What is your review of 'Q4 2017 for quarterly net sales?

Several food companies were among the major beneficiaries of the pandemic-induced curbs that forced people to cook more at home.

As U.S. economy revives, with a large number of people getting immunized and as pandemic restrictions ease, food manufacturers are keenly observing consumer preference for home dining.

Net sales fell to $6.62 billion in the second quarter from $6.65 billion a year earlier when people stockpiled essentials. Analysts were expecting net sales of $6.55 billion, according to IBES data from Refinitiv.

Kraft reported a net loss of $25 million, or 2 cents per share in the reported quarter, compared to a loss of $.65 billion, or $1.35 per share, a year earlier. It incurred impairment losses of about $1.8 billion last year.