Mondelez International Inc. reported quarterly sales Wednesday that fell short of Wall Street expectations. The company also trimmed its sales forecast for the year.

The maker of Oreo, Cadbury and Trident cited the challenging market conditions in scaling back its outlook for core sales growth to 2 to 2.5 per cent. It had previously forecast growth of 3 per cent.

Like many other packaged food companies, Mondelez has also been cutting costs to help offset weak sales results. Such actions helped lift its profit by 3.5 per cent in the second quarter.

http://www.canadianbusiness.com/business-news/mondelez-lowers-sales-forecast-after-missing-wall-street-expectations/