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08-Feb-2019
Kellogg Company (K) announced, for 2019, the company projects adjusted EPS to decrease by 5%-7% on a currency-neutral basis as it laps 2018's discrete tax benefits.
Adjusted operating profit is expected to be approximately flat on a currency-neutral basis. Kellogg expects 2019 net sales to increase 3%-4% on a currency-neutral basis, and an organic net sales growth of 1%-2%. Kellogg reported that its fourth-quarter earnings per share declined slightly on a reported basis, owing to a sharply negative swing in the mark-to-market adjustments and higher restructuring charges. On a currency-neutral adjusted basis, earnings per share were at $0.93, flat with previous year. Reported net sales grew more than 4% year-on-year to $3.32 billion. On an organic basis, net sales declined by less than 1%. (dpa)
Nutella maker Ferrero buys Kellogg cookie business for 1.3 bn dollars
Italy's Ferrero, a confectionery giant that makes the Nutella hazelnut spread, said on Monday it struck a 1.3-billion-dollar deal to buy from US rival Kellogg Company its biscuit, fruit snack and ice cream divisions. The deal covers the "Keebler," "Famous Amos," "Mother's," "Murray" and "L ... more
MorningStar Farms® Announces 100 Percent Plant Based Commitment, Introduces Vegan Cheezeburger
MorningStar Farms® announces its commitment to convert the entire portfolio to be 100 percent plant-based (vegan) by 2021, further increasing the accessibility of great-tasting plant-based offerings and reducing the use of over 300 million egg whites annually. This conversion also includes ... more
More than 100 years ago, our founder, W.K. Kellogg, saw the promise in a single grain. Through his passion and commitment to nutrition, Kellogg’s Corn Flakes® were made, and an industry was born. Today nutrition continues to be the core of our business. And cereal is an integral part of ho ... more
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