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 CHICAGO (AP) - Kraft Foods Inc. announced an expanded turnaround plan Tuesday that includes selling more packaged meals to compete with restaurants as it seeks to revive slumping sales.
Chief Executive Irene Rosenfeld told analysts that the plan will help Kraft cut costs and try to become more relevant to consumers by reframing its business categories, targeting emerging markets and driving growth in popular products such as coffee, pizza, cheese and cold cuts.
"We all understand that now, more than ever, the future of Kraft rests on our shoulders," she said during a speech in Scottsdale, Ariz. "It's up to us to make this company great again."
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