Snacking habits consumers picked up during the pandemic aren’t going away.
Kellogg, the owner of Pringles and Cheez-its, is actually seeing snacking accelerate.
Shares of Kellogg jumped more than 7% in midday trading Thursday after the company topped Wall Street’s earnings estimates and raised its full-year outlook. Despite last year’s pantry stockpiling, the company’s net sales rose 5.1% year over year to $3.58 billion.
Strong demand for its snacks helped drive the quarter’s sales growth. In North America, Kellogg saw organic revenue of its snacking division rise 3.5%.
“Snacking has not slowed down. In fact, snacking has sped up, so we believe in choice at Kellogg,” CEO Steve Cahillane said…