Oreo maker Mondelez International Inc withdraws 2020 forecast on coronavirus pandemic-led uncertainty

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Oreo cookie maker Mondelez International Inc withdrew its 2020 outlook on Tuesday, citing the uncertainty caused by the coronavirus pandemic.

Mondelez's revenue rose to $6.71 billion in the first quarter ended March 31 from $6.54 billion a year ago, as consumers in North America stockpiled the company's snacks in March, ahead of the coronavirus-led lockdown.

Rival Hershey pulled https://reut.rs/2S7vru8 its 2020 forecast last week and warned of weak sales in certain categories as households, worried about their financial future, cut spending on snacks and chocolates.

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