BOCA RATON, Florida/LONDON—Major consumer companies including Kraft Heinz Co. and Conagra Brands Inc. are culling product lines to combat sky-high costs and falling consumer demand, their executives said this week.
Many companies started slimming their offerings during the pandemic and are aggressively renewing those efforts, eliminating less-popular items to focus on products on which they can more easily raise prices amid prolonged inflation on food items.
