What do Kraft Heinz, Anheuser-Busch and Victoria’s Secret have in common? Their stumbles are another reminder that businesses that don’t innovate won’t survive for long. Kraft Heinz took a $15.4 billion write-down last Friday, causing its stock to tumble 30% and costing shareholders of Warren Buffett’s Berkshire Hathaway $2.7 billion. Berkshire Hathaway helped arrange the Kraft Heinz marriage in 2015 and owns 27% of its stock. Kraft Heinz sells...

Source: Wall Street Journal February 28, 2019 00:39 UTC