The American fling specialist WK Kellogg – which, among other things, has the brands Corn Flakes, All-Bran, and Rice Krispies in its portfolio – reports an unexpectedly weak sales for the first quarter of the year.
Net sales fell to $663 million, down 6.2 percent compared to the corresponding quarter a year earlier. This can be compared to an average forecast among analysts of $679 million, according to Bloomberg.
Net profit for the quarter plummeted by 45 percent to $18 million, which can be compared to the average forecast of $29 million.
