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Despite higher prices, McDonald’s, Kraft Heinz and Coca-Cola are posting solid results.


Consumers shrugged off price hikes from three of the largest global food and beverage companies, helping them improve their third-quarter earnings.

The Coca-Cola Company, McDonald’s and Kraft Heinz all reported better-than-expected quarterly results on Wednesday, despite ongoing global supply chain problems and pandemic restrictions in many parts of the world. The sheer scale of each company, as well as their ability to pass on price increases to consumers, seem to have helped them in a time of uncertainty.

  • Coca-Cola reported net sales of $10 billion in the three months ended September, up 16 percent from the same quarter last year. The number of suitcases sold grew by 6 percent, resulting in a higher volume than in 2019, although the share of activities related to restaurants and dining out has not recovered to 2019 levels. The Delta variant of the coronavirus impacted sales in several markets in August, the company said. In April, the chairman and chief executive, James Quincey, said, announced that the beverage company would raise prices to cope with rising raw material costs, although the company has yet to disclose specific details.

  • McDonald’s reported a 12.7 percent increase in sales, compared to the same quarter last year, helped by increased customer orders and menu price increases in the United States, as well as fewer restaurant closures in Europe. The company expects to maintain a 6 percent increase for customers in the United States this year to cover increased labor and raw material costs. Nearly 80 percent of the fast-food chain’s U.S. dining rooms have reopened, but the reduction in opening hours and capacity continues to weigh on the business, the company said. McDonald’s restaurants in China and Australia have been particularly affected by pandemic lockdowns.

  • Kraft Heinz reported net sales for the quarter declined 1.8 percent to $6.3 billion, compared to the same period last year. The company’s sale of its nuts business to Hormel contributed in part to the decline. And, as a sign of rising inflation, the company increased prices by 1.5 percent in its global restaurant and retail sectors. Kraft Heinz expects to participate next year “after implementing the pricing plan that protects our profitability against current cost levels,” said Paulo Basilio, the company’s chief financial officer, during a meeting with investors.

Americans are being hit in the wallet as prices for food, gasoline and other consumer goods continue to rise. The price hikes have put pressure on policymakers in the White House and the Federal Reserve, who have said rising prices are temporary quirks caused by imbalances in supply and demand as the economy reopens.

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