Kellogg Profit Falls 5% as Wheat Cost Rises
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The largest cereal maker in the United States said that wheat costs had soared and that the company had spent more on advertising.
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Kraft Foods Inc  on Wednesday posted a lower quarterly profit as higher costs for dairy products and other ingredients offset an 11 percent sales increase.
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Tyson Foods Inc., the world&#39;s largest meat processor, reduced its forecast of annual profit because of higher costs for feed grain and a drop in beef and chicken prices.
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CHICAGO  â Kraft Foods, the food and beverage maker, said Wednesday that its fourth-quarter profit fell 6 percent, weighed down by record-high dairy prices.
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Krispy Kreme Doughnuts said second-quarter net income fell 55 percent to $5.8 million, the latest reported setback for the one-time Wall Street darling.
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Caterpillar Inc. CAT.N reported  lower-than-expected quarterly earnings on Thursday as higher  raw material prices and retirement benefits hurt profit,  sending its shares down more than 5 percent.
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Cott Corp., a maker of store-brand soft drinks, lowered its 2004 profit outlook Monday because of increasing raw material costs, and predicted 2005 results that fall short of Wall Street estimates.
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The company said on Friday that its profit fell on price declines for its mainstay computer memory chips, but expressed confidence a rebound in the market would bolster earnings.
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Costco Wholesale Corp. COST.O on   Wednesday warned of lower-than-expected quarterly profit   because of disappointing gross margins and a tax reserve,   sending its shares down nearly 5 percent.
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Caterpillar Inc. CAT.N reported  lower-than-expected quarterly earnings on Thursday as higher  raw material prices and retirement benefits hurt profit,  sending its shares down nearly 5 percent.
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General Mills Inc. on Tuesday  reported a steeper-than-expected drop in quarterly net income  due to higher food ingredient costs and stepped-up spending on  promotions.
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Kellogg reported Wednesday that its fourth-quarter profit dropped 3.3 percent, in part because of higher energy and costs, including for advertising. Its shares fell 51 cents, to $49.11.
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General Mills Inc.  on Wednesday reported a rise in quarterly earnings that matched a better-than-expected view the company gave earlier this month, helped by a move to reduce the size of cereal boxes and charge consumers more per ounce.
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General Mills Inc. GIS.N on Tuesday  reported a steeper fall in quarterly earnings than Wall Street  had expected due to higher costs of key food ingredients and  promotional spending.
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The newspaper publisher and television station operator said  third-quarter profit fell to $2.5 million as ad revenue slumped.
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Kellogg Co.  reported lower fourth-quarter earnings on Tuesday due to costs for job cuts at a plant in England, higher prices for commodities such as corn and wheat, and increased advertising spending.
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Del Monte Foods Co. , maker of Meow Mix cat food, StarKist tuna and its own canned fruits, on Thursday posted a drop in quarterly profit, hit by higher costs for some items and lower seafood sales volume.