Froot Loops maker WK Kellogg reports downbeat quarterly results on demand decline

Reuters

Aug 07

Froot Loops maker <a href="https://laohu8.com/S/KLG">WK Kellogg</a> reports downbeat quarterly results on demand decline

Aug 7 (Reuters) - WK Kellogg KLG.N reported second-quarter results below estimates on Thursday, hurt by soft demand for its packaged breakfast cereal amid macroeconomic uncertainty.

Customers have cut back spending on branded packaged food and are seeking cheaper alternatives at private-label brands amid pressures on consumer spending driven by U.S. President Donald Trump's fluctuating tariff policies.

The cereal maker agreed to be bought by the Italian owner of Ferrero Rocher in a deal worth around $3.1 billion in July, and the Battle Creek, Michigan-based company continues to expect the deal to close in the second half of 2025.

Net sales for the quarter ended June 28 fell 8.8% to $613 million, missing estimates of $622.1 million, according to data compiled by LSEG.

The company reported earnings per share of 9 cents, below estimates of 24 cents.

(Reporting by Neil J Kanatt in Bengaluru; Editing by Harikrishnan Nair)

((Neil.JKanatt@thomsonreuters.com;))

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