BATTLE CREEK (WKZO-AM) — Sales were up at Kellogg in the fourth quarter.
The Battle Creek company beat expectations, but it earned $41 million less than in the previous fourth quarter.
Economists blame the high performing dollar for the lower profits. Because the cereal-maker does significant business overseas, the exchange rate took a chunk out of their profit margin.
Kellogg stock has dropped two percent in the last year, but the entire S&P 500 fell nine percent during that same period.
– John McNeill
