Kraft Heinz raises annual forecasts

Aug. 5 (Reuters) - Kraft Heinz KHC.O raised its annual sales and profit forecasts on Wednesday, betting on CEO Steve Cahillane's turnaround efforts, including increased investments to revive businesses and gain market share amid macroeconomic uncertainty.

The company expects annual organic sales to fall in the range of 0.5% to 2.0%, compared with its prior view of a 1.5% to 3.5% decline.

It also expects annual adjusted earnings per share in the range of $2.03 to $2.09, compared with its prior forecast of $1.98 to $2.10.