- Kellogg Company released its second-quarter earnings results on Thursday, recording earnings of $352 million (96 cents per share), compared to $324 million (90 cents per share) in the same quarter one year ago.
- The company pointed to growth in snack and frozen food business but reported a 3.3% decline in its struggling morning foods category, testament to the challenges it currently faces with breakfast products.
- Kellogg also saw a cashflow dip of $58 million, which it credited to one-time expenses related to its Pringles acquisition last year.
From the article:
... General Mills, which makes Cheerios, is facing a similar problem and is deploying a variety of tactics such as marketing children’s cereal to adults by playing on their nostalgia for brands such as Lucky Charms.
Back at Kellogg, CEO John Bryant has noted in the past that the company needs to play up the nutritional benefits to get baby boomers and higher-income people to eat more cereal. That’s why the company recently introduced Raisin Bran with omega-3 and a multigrain version of Special K. ...