WEBVTT

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- Oreos and Chips of Hoya
are getting too expensive

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and it's hurting sales.

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At EZ International, the snack

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and beverage giant reported
second quarter earnings on

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Tuesday that detailed the
company's popular cookie offerings

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are being passed over for
cheaper store branded treats.

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That decline may also be in part due

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to price hikes put in place
to offset the rising costs

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of raw materials like cocoa

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and sugar to meet consumers
at right price points.

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Mondelez's, CEO Dirk Van Depu
told investors the company is

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implementing new targeted promotions,

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including a new pack size
priced in the three to $4 range

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to drive continued brand loyalty

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and value for Oreo chips, voy and Ritz.

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During the earnings call, DPU
mentioned consumers 39 times.

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Dput said the company has
already launched Oreo centric

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promotions, including a Star
Wars, Oreo and Oreo space.

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Dunk. In an effort to
attract Star Wars fans, even

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with quirky promotions,

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sales in North America slipped
3.4% while European sales

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fell 1.8% Sales in Asia declined

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by 1.4% in a bright spot.

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Sales in Latin America
nudged up just 0.3%.

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The Bo Vita biscuit maker
missed the street's revenue

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expectations.

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During the second quarter,
it reported revenue

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of 8.3 billion analysts had
forecasted it would generate

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8.4 billion in May.

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Mandela agreed to pay
$366 million to the EU

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for limiting cross forward
trading of its chocolate biscuits

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and coffee products.

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I'm Francisco Velasquez
reporting for Quartz.

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Thanks for watching, and
stick with qz.com for more.