Kraft reports $398M net loss

“While there were some positive developments in the fourth quarter, we did not deliver to our potential in 2014, with the macro environment and our execution affecting our results,” said Kraft Chairman and CEO John T. Cahill in a release after the company reported a net loss of $398 million (68 cents/share) on revenues of $4.7 billion. That compares to the fourth quarter of 2013, when Kraft, parent of Oscar Mayer, reported earnings of $931 million ($1.54/share) on revenues of $4.6 billion. The latest figures resulted in some executive leadership changes as well.