Kellogg Company, the nation’s largest breakfast cereal manufacturer, is again announcing major cut backs and has slashed its sales forecast as profits continue to fall. On February 9 the Michigan-based company cut its sales projections for the year after experiencing another quarterly decline. The company imagined it would have flat sales but instead found a two percent decline.
“For the quarter ended Dec. 31, Kellogg reported a loss of $53 million, or 15 cents per share,” the Associated Press reported on Thursday. “Not including one-time items, it said it earned 92 cents per share. Analysts expected a profit of 85 cents per share. Total sales were $3.1 billion, slightly better than expected revenue of $3.07 billion.” READ MORE