The kraft heinz (KHC.US) announced that third-quarter net sales fell by 2.8% year-on-year to $6.38 billion, below market expectations, with adjusted earnings per share of 75 cents, slightly higher than the expected 74 cents.

The company stated that repeated price increases have harmed product demand, and it is currently expected that the full-year net sales growth will be at the lower end of the previous range, with a 2% decrease from last year, while adjusted earnings per share are expected to be at the lower end of the previous range, between $3.01 and $3.07.