Aug 7 (Reuters) - WK Kellogg 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.