Mondelez International has cut its full-year outlook as high cocoa prices and cautious consumers weighed on the maker of Oreo cookies and Ritz crackers. The company said shoppers are under pressure and pulling back from snacks as they focus on essential goods.
Chicago-based Mondelez now sees organic sales growth rising 4% or more in 2025, a reduction from previous guidance of an expansion of about 5%. The company also expects earnings per share, excluding some items, to decline by about 15% — deeper than the 10% decline it previously projected.
Chief Executive Officer Dirk Van de Put said on the company’s call with analysts that consumers are “very concerned in general about the economy.” He added they’re “frustrated with the pricing they’re seeing” and many are opting to buy essential goods instead of Mondelez’s cookies and other snacks.
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