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The company lowered its full-year earnings forecasts because of rising commodity costs.
Kraft lowered its full-year forecast because of weakness in consumer confidence and rising commodity costs.
Mr. Powell said he expected higher prices to help offset rising commodity costs.
Both have cut overhead costs and increased prices to help offset the rising commodity costs.
The fast-food company was struggling before 3G took it private, buffeted by the global recession and rising commodity costs.
Rising commodity costs have hurt consumers, whose spending accounts for more than two-thirds of the United States' economic activity.
Similar(16)
Anger at rising food prices contributed to protests across the Middle East, and rising commodities costs were among the factors pushing UK inflation to 4.4 per cent in February, according to figures out yesterday.
Moody's expects meat processors to be especially vulnerable to rising commodities costs since corn is the main component in animal feed.
Ford previously warned that the first-quarter profit probably would be its largest of the year because of rising commodity and structural costs.
Fast-food restaurants have been raising prices because of the drought and rising commodity and labour costs.
Campbell Soup Co. reported Monday that its fiscal first-quarter earnings slipped 7.2% due to rising commodity and promotional costs, and a delayed start to "soup season".
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