Kellogg's Eggo waffle sales soar 45% in March as consumers eat breakfast at home [MSNBC.com]
Kellogg Company (K)
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Source: MSNBC.com
Kelloggcoronavirus pandemicBefore government officials told consumers to stay home, Americans were buying breakfast from restaurants on their way to work or skipping the meal entirely. Now breakfast staples likeorange juiceWhile food companies like Kellogg have benefited from the shift in consumer behavior, fast-food chains are seeing their breakfast sales plunge further than those for lunch or dinner.McDonald'ssaid Thursday that breakfast is the most challenged daypartYum Brands'Kellogg CEO Steve Cahillane said on CNBC's "Squawk on the StreetKellogg cereal sales rose 2.7% in the company's first quarter. Industry-wide, cereal sales had been in a long slump. sales of cereal fell 7% between 2015 and 2019, according to Nielsen data."It's growing in breakfast in the double digits, but it's growing as dinner replacement as well and a snack," Cahillane said.Shares of Kellogg rose 3% in morning trading after the company reported organic revenue rose 8% during the quarter ended March 28. The
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