Kraft Heinz sales fall as it doubles down on processed food

The classic Heinz ketchup bottle... hasn't changed much during the company's 151-year history. Condiment legend Heinz merged with mac-n-cheese icon Kraft back in 2015 to form Kraft Heinz. The food giant's latest 5% drop in quarterly sales knocked shares down 8% Thursday — probably a result of Kraft's lack of healthy food options:

• Think of processed pantry puppies like Jell-O, Oscar Mayer, Capri-Sun, and Lunchables — all Kraft Heinz brands. All boasting unpronounceable ingredient lists.
• Consumers have been moving away from super-processed foods, towards healthier/trendier "whole" foods snacks like Greek yogurt, almond butter, and protein bars that show off their (lack of) ingredients.

Kraft's labels are in pain... The company had to write down the value of its old-school brands by $15B last year — just yesterday, Kraft Heinz announced that Maxwell House coffee is worth $213M less than you thought. Add that all up and Kraft Heinz's stock has plunged over 70% in the past 3 years, and 40% in the past year alone.