LOS ANGELES
,
May 9, 2023
(Kellogg Co.)
–
Overall Results: Kellogg reports fourth consecutive quarter of double-digit organic net sales growth Kellogg continues to deliver broad-based growth across each of its four regions and across each of its four major category groups Announcement of new company names has been well received by stakeholders North America: EMEA: Latin America: Europe: Kellanova: Soon-to-be Kellanova businesses will be a higher growth company with 80% of sales coming from snacks and emerging markets WK Kellogg Co.: Soon-to-be WK Kellogg Co. businesses continue to show recovery in net sales, consumption and share amid high input cost inflation Growth supported with sustained innovation and improving supply In Q3, company plans to test run WK Kellogg on its own in areas including procurement, manufacturing, invoicing, financials Employee sentiment and engagement remain "very high" WK Kellogg Co. will benefit from focus and resource prioritization Looking Forward: Company is deploying technologies such as artificial intelligence and machine learning Supply constraints, bottleneck shortages are improving "almost everywhere," becoming "much more normalized" compared to last year Kellogg's social and environmental program, the Better Days Promise, continues to be a strategic priority CEO Steven Cahillane says: "The bar of innovation has been raised... there is no question that innovations have to be better, they have to be performing right out-of-the-gate." "Shelf space is more valuable than it's ever been, today, in my years in the business." "The whole world of marketing has changed like it never has before. The true promise of one-to-one marketing that we've been talking about for so many years is upon us with data and analytics, more sophisticated than they've ever been, first-party data, more robust and more available than it's ever been to really target consumers in a way that marketers have dreamed up for years."
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