Trump has begun another trade war. Here's a timeline of how we got here
Canada's leader laments lost friendship with US in town that sheltered stranded Americans after 9/11
Chinese EV giant BYD's fourth-quarter profit leaps 73%
You're an American in another land? Prepare to talk about the why and how of Trump 2.0
Chalk talk: Star power, top teams and No. 5 seeds headline the women's March Madness Sweet 16
Purdue returns to Sweet 16 with 76-62 win over McNeese in March Madness
(Reuters) - WK Kellogg Co beat Wall Street estimates for quarterly sales on Tuesday, as higher product prices offset pressure from slowing demand for the Froot Loops maker's ready-to-eat breakfast items and snacks.
Like other major brands in the packaged food market, the spun-off North American cereal business of Kellanova has been ramping up prices to shield its margins from an inflation-induced slowdown in consumer spending.
Its pricing rose by 6.3% in the reported quarter, driving volumes down 7%.
Kellanova had also posted better-than-expected quarterly sales and profit last week and maintained the 2024 forecast provided in August.
WK Kellogg reported sales of $707 million for the first quarter ended March 30, above analysts' average estimate of $697.8 million, according to LSEG data.
The Apple Jacks cereal maker also reaffirmed its annual adjusted net sales growth range forecast at down 1% to up 1%.
It reported a net income of $33 million, or 37 cents per share, from $24 million, or 28 cents per share, a year earlier. Analysts were expecting a profit of 38 cents.
(Reporting by Aatrayee Chatterjee in Bengaluru; Editing by Devika Syamnath)
