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Kellogg’s Co-Packing Costs Cut into Operating Profit
date:Nov 02, 2018
net sales were up 0.4%.

Kellogg updated its financial guidance for the fiscal year. The company expects net sales growth of about 5% on a currency-neutral basis, which is at the high end of the previous range of 4% to 5%. Guidance on adjusted operating profit was reduced to roughly flat on a currency-neutral basis, down from a previous range of 5% to 7%. Kellogg reduced fiscal-year growth in adjusted earnings per share to 7% to 8%, down from a previous range of 11% to 13% because of the reducti

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