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Latest headlines

Kellogg’s net sales decrease in third quarter

By Jeremy Gerrard
Kellogg’s reaches $4 million settlement in Mini-Wheats class action suit
October 31, 2014

Kellogg’s reaches $4 million settlement in Mini-Wheats class action suitThe Kellogg Company announced yesterday its net sales decreased 2.1 percent to $3.6 billion in the third quarter and its operating profit over the same time was $365 million, a reported decrease of 27.5 percent.

The company said this decrease is a result from costs associated with Project K, a four-year efficiency and effectiveness program.

“Our international business did well in the quarter, although we continued to face the challenges in developed regions and categories that we've seen all year,” said John Bryant, Kellogg’s chairman and CEO.  “We have been working hard on our plans for 2015 and we have both good brand-building activities and new-product introductions planned for the first quarter, and the balance of the year.  We also continue to execute the largest restructuring program in our history, which will enable us to invest back in our business and drive sustainable growth.”

In North America, the company—whose brands include Pop Tarts, Eggo, Special K and Frosted Flakes—said the sales of its Morning Foods segment declined 4.7 percent.

According to the Associated Press, Bryant said the company is addressing this performance by rebranding its Special K line to include products that address food trends like added-protein and gluten-free.

KEYWORDS: food and beverage companies food and beverage industry trends global economy

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Jeremy Gerrard was Food Engineering's Digital/Online Editor. He is a graduate of Auburn University with a degree in journalism. His previous work experience includes years spent as a reporter with the Daily Local News out of Chester County, PA. In addition to writing feature articles for Food Engineering, Jeremy covered the Dry Processing, Field Reports and People and Industry news sections.

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