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Oreo maker Mondelez pulls 2020 forecast on coronavirus-led uncertainty

Reuters
Updated ·1 min read

April 28 (Reuters) - Oreo cookie maker Mondelez International Inc withdrew its 2020 outlook on Tuesday, citing the uncertainty caused by the coronavirus pandemic.

Mondelez's revenue rose to $6.71 billion in the first quarter ended March 31 from $6.54 billion a year ago, as consumers in North America stockpiled the company's snacks in March, ahead of the coronavirus-led lockdown.

Rival Hershey pulled https://reut.rs/2S7vru8 its 2020 forecast last week and warned of weak sales in certain categories as households, worried about their financial future, cut spending on snacks and chocolates. (Reporting by Praveen Paramasivam in Bengaluru; Editing by Vinay Dwivedi)