Kraft Heinz Co. reported slightly higher first-quarter sales as the food company continues implementing turnaround efforts aimed at returning to growth before considering a potential split into two separate companies.

Chief Executive Officer Steve Cahillane highlighted the company's focus on providing value to consumers facing financial constraints. "Consumers are literally running out of money," Cahillane said, emphasizing the need to adjust products and pricing to meet customer demands for affordable options.

The company has allocated $600 million to spend on product and pricing adjustments as part of its strategy to offer consumers better value propositions. This investment represents a significant commitment to repositioning the company's portfolio in response to changing market conditions.

The sales increase comes as Kraft Heinz works through a broader business transformation strategy. The company has been working to stabilize its operations and return to consistent growth patterns as it evaluates the potential future separation into two distinct entities.

The quarterly results reflect early signs that the company's strategic initiatives may be gaining traction, though the full impact of the turnaround efforts remains to be seen in future reporting periods.