Kellogg reports 9% profit gain but weak cereal sales

08/2/2013 | USA Today · (free registration)

Kellogg has posted a 9% increase in net income for the second quarter compared with Q2 of 2012, propelled by the sale of breakfast sandwiches and its acquisition of Pringles chips. Lagging cereal sales, however, have forced the company to cut its revenue forecast for 2013. "The breakfast occasion is growing, but there are a lot more choices," CEO John Bryant said. "Within that, we need [cereal] to stand for something more clearly."

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