Earnings MissWK Kellogg announced that 2Q sales and EBITDA both missed expectations, with sales down by 9% and EBITDA down by 42%.
Health Brand DeclineKellogg's health-oriented Special K brand has been in decline for years, especially since it essentially abandoned its position as a solution for dieters.
Sales Guidance RevisionManagement lowered sales guidance by 100-200 bps to -2% to -3%, and EBITDA growth by 600 bps to -2% to 0%.