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Starting next week, submitting Obituaries, In Memoriams or Cards of Thanks for our publications and online becomes easier! Simply visit - WK Kellogg Co beat Wall Street estimates for quarterly sales on Tuesday, as higher product prices offset pressure from slowing demand for the Froot Loops maker's ready-to-eat breakfast items and snacks.
Like other major brands in the packaged food market, the spun-off North American cereal business of Kellanova has been ramping up prices to shield its margins from an inflation-induced slowdown in consumer spending.Kellanova had also posted better-than-expected quarterly sales and profit last week and maintained the 2024 forecast provided in August.
WK Kellogg reported sales of $707 million for the first quarter ended March 30, above analysts' average estimate of $697.8 million, according to LSEG data. The Apple Jacks cereal maker also reaffirmed its annual adjusted net sales growth range forecast at down 1% to up 1%. It reported a net income of $33 million, or 37 cents per share, from $24 million, or 28 cents per share, a year earlier. Analysts were expecting a profit of 38 cents.It has been our privilege to have the trust and support of our East Coast communities for the last 200 years. Our SaltWire team is always watching out for the place we call home.
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