Correction to Mondelez Story

By Imani Moise Features Dow Jones Newswires

Mondelez International Inc. reported a rise in quarterly sales for the first time since the third quarter of 2013 as demand increased for the company's staple brands in the U.S and Europe.

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The maker of Oreo cookies, Trident gum and Triscuit crackers said comparable sales grew 2.8%, fueled by sales of core brands like belVita biscuits and Cadbury Dairy Milk chocolate.

The earnings report Monday was Chief Executive Irene Rosenfeld's last at the company's helm after leading it for 11 years.

Shares rose 5.5% to $41.45 post-market after having fallen 3.4% in regular Monday trading. The stock had fallen 11% so far this year.

Mondelez, like other large packaged-food companies, has been working to adapt to changing U.S. consumer preferences, but recently snacks and candy have been more popular than other packaged foods. Hershey Co. also reported higher-than-expected earnings last week, signaling that snack-focused companies are faring better in the tough food retail environment.

While battling declines in U.S. sales, Mondelez has looked abroad for growth. In the most recent quarter, sales in emerging markets jumped 4.5% to $2.45 billion, representing over a third of sales. Sales in North America also grew 1.3%, mostly driven by an uptick in volume.

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Write to Imani Moise at imani.moise@wsj.com

Corrections & Amplifications

This article was corrected at 7:19 p.m. ET to reflect that Mondelez International Inc. last reported comparable-quarter revenue growth in the third quarter of 2013. The original version of this article incorrectly stated it last saw quarterly revenue growth in June 2012.

Mondelez International Inc. last reported comparable-quarter revenue growth in the third quarter of 2013. "Mondelez Reports Sales Increase" at 4:46 p.m. ET followed by subsequent updates at 4:54 p.m. ET and 6:13 p.m. ET incorrectly stated it last saw quarterly revenue growth in June 2012.

(END) Dow Jones Newswires

October 30, 2017 19:17 ET (23:17 GMT)