Kellogg's profit falls, battles continue on breakfast front
Kellogg Co. reported a 24% earnings hit for the second quarter as the strength of the dollar impacted international sales and domestic demand for cereal and other packaged foods slowed. The company said the results were expected.
The U.S. morning foods segment reported a 2.3% currency-neutral comparable net sales decline, though the company said that trends in the cereal business are improving.
Changing consumer preferences for healthier foods are driving down sales for some of Kellogg's major product lines, particularly breakfast foods and cereals.
