Food Business News - May 12, 2020 - 21

withdrawing guidance because of this
uncertainty, and we're affirming guidance.
The second is lost activities in second and
third quarter. So you have things like the
European championship (UEFA European
Championship - soccer) in Europe, which
is a big event for Pringles. That's not going
to happen. You have the lag impact of investments that we're going to make in the
second half that are not in the first half.
So there is a big shift from the first half to
the second half in investments, and there's
some volume that's going to come out in
the second half. The third is emerging
markets slowdown. We're already seeing
it in large markets like Nigeria where we
have a big business. You think about oilbased economies, and nobody ever imagined oil would be where it is right now.
Well, that's going to impact these economies. And so we think we can manage
through it. We've got the right playbook.
We've been here before. But it's going to
have an impact. Emerging markets are
going to slow down. And then finally,
we will have the flexibility to reinvest
in the business to make this company
stronger and stronger and come out
of this pandemic with very good share
positions, very high brand equity scores

Kellogg Co. share price
$75
$65
$55
$45
May
2019

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.
2020

Feb. March

April

May

Source: New York Stock Exchange

and just a better company."
Amid the considerable good news,
Mr. Cahillane conceded Kellogg has lost
market share in the RTE cereal category.
He said taste/fun cereal has grown
faster than adult cereal. Because Kellogg
over-indexes in adult cereals, it has lost
share overall. With Frosted Flakes and
Froot Loops, the company is making
inroads.
"We're not in the business of donating share, but right now, we're doing
everything we can to satisfy the orders
that are coming in," he said.
Going into a recession, Kellogg
will not be shifting into a defensive

mode, Mr. Cahillane said.
"Some of the mistakes made across
categories in recessions is a hunkeringdown mentality, which takes away brand
building and shows up on innovation," he
said. "People still want good news. People
want fun. They want to try things in an
affordable way. And our brands are iconic.
They bring joy. And so we'll be bound
and determined to continue to invest, to
innovate, but to be very mindful of the
price-value relationship and making sure
that people understand how economic, for
example, ready-to-eat cereal is in terms of
a meal solution. It's an incredibly economic way to feed your family." FBN

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May 12, 2020

Food Business News

21


http://www.ititropicals.com

Food Business News - May 12, 2020

Table of Contents for the Digital Edition of Food Business News - May 12, 2020

Food Business News - May 12, 2020 - 1
Food Business News - May 12, 2020 - 1
Food Business News - May 12, 2020 - 2
Food Business News - May 12, 2020 - 3
Food Business News - May 12, 2020 - 4
Food Business News - May 12, 2020 - 5
Food Business News - May 12, 2020 - 6
Food Business News - May 12, 2020 - 7
Food Business News - May 12, 2020 - 8
Food Business News - May 12, 2020 - 9
Food Business News - May 12, 2020 - 10
Food Business News - May 12, 2020 - 11
Food Business News - May 12, 2020 - 12
Food Business News - May 12, 2020 - 13
Food Business News - May 12, 2020 - 14
Food Business News - May 12, 2020 - 15
Food Business News - May 12, 2020 - 16
Food Business News - May 12, 2020 - 17
Food Business News - May 12, 2020 - 18
Food Business News - May 12, 2020 - 19
Food Business News - May 12, 2020 - 20
Food Business News - May 12, 2020 - 21
Food Business News - May 12, 2020 - 22
Food Business News - May 12, 2020 - 23
Food Business News - May 12, 2020 - 24
Food Business News - May 12, 2020 - 25
Food Business News - May 12, 2020 - 26
Food Business News - May 12, 2020 - 27
Food Business News - May 12, 2020 - 28
Food Business News - May 12, 2020 - 29
Food Business News - May 12, 2020 - 30
Food Business News - May 12, 2020 - 31
Food Business News - May 12, 2020 - 32
Food Business News - May 12, 2020 - 33
Food Business News - May 12, 2020 - 34
Food Business News - May 12, 2020 - 35
Food Business News - May 12, 2020 - 36
Food Business News - May 12, 2020 - 37
Food Business News - May 12, 2020 - 38
Food Business News - May 12, 2020 - 39
Food Business News - May 12, 2020 - 40
Food Business News - May 12, 2020 - 41
Food Business News - May 12, 2020 - 42
Food Business News - May 12, 2020 - 43
Food Business News - May 12, 2020 - 44
Food Business News - May 12, 2020 - 45
Food Business News - May 12, 2020 - 46
Food Business News - May 12, 2020 - 47
Food Business News - May 12, 2020 - 48
Food Business News - May 12, 2020 - 49
Food Business News - May 12, 2020 - 50
Food Business News - May 12, 2020 - 51
Food Business News - May 12, 2020 - 52
Food Business News - May 12, 2020 - 53
Food Business News - May 12, 2020 - 54
Food Business News - May 12, 2020 - 55
Food Business News - May 12, 2020 - 56
Food Business News - May 12, 2020 - 57
Food Business News - May 12, 2020 - 58
Food Business News - May 12, 2020 - 59
Food Business News - May 12, 2020 - 60
Food Business News - May 12, 2020 - 61
Food Business News - May 12, 2020 - 62
Food Business News - May 12, 2020 - 63
Food Business News - May 12, 2020 - 64
Food Business News - May 12, 2020 - 65
Food Business News - May 12, 2020 - 66
Food Business News - May 12, 2020 - 67
Food Business News - May 12, 2020 - 68
Food Business News - May 12, 2020 - 69
Food Business News - May 12, 2020 - 70
Food Business News - May 12, 2020 - 71
Food Business News - May 12, 2020 - 72
Food Business News - May 12, 2020 - 73
Food Business News - May 12, 2020 - 74
Food Business News - May 12, 2020 - 75
Food Business News - May 12, 2020 - 76
Food Business News - May 12, 2020 - 77
Food Business News - May 12, 2020 - 78
Food Business News - May 12, 2020 - 79
Food Business News - May 12, 2020 - 80
http://digital.foodbusinessnews.net/sosland/fbn/2020_05_26
http://digital.foodbusinessnews.net/sosland/fbn/2020_05_12
http://digital.foodbusinessnews.net/sosland/fbn/2020_04_28
http://digital.foodbusinessnews.net/sosland/fbn/2020_04_14
http://digital.foodbusinessnews.net/sosland/fbn/2020_03_31
http://digital.foodbusinessnews.net/sosland/fbn/2020_03_17
http://digital.foodbusinessnews.net/sosland/fbn/2020_03_03
http://digital.foodbusinessnews.net/sosland/fbn/2020_02_18
http://digital.foodbusinessnews.net/sosland/fbn/2020_02_04
http://digital.foodbusinessnews.net/sosland/fbn/2020_01_21
http://digital.foodbusinessnews.net/sosland/fbn/fbn/2020_01_07
http://digital.foodbusinessnews.net/sosland/fbn/2019_12_24
http://digital.foodbusinessnews.net/sosland/fbn/2019_12_10
http://digital.foodbusinessnews.net/sosland/fbn/2019_11_26
http://digital.foodbusinessnews.net/sosland/fbn/2019_11_12
http://digital.foodbusinessnews.net/sosland/fbn/2019_10_29
http://digital.foodbusinessnews.net/sosland/fbn/2019_10_15
http://digital.foodbusinessnews.net/sosland/fbn/2019_10_01
http://digital.foodbusinessnews.net/sosland/fbn/2019_09_17
http://digital.foodbusinessnews.net/sosland/fbn/2019_09_03
http://digital.foodbusinessnews.net/sosland/fbn/2019_08_20
http://digital.foodbusinessnews.net/sosland/fbn/2019_08_06
http://digital.foodbusinessnews.net/sosland/fbn/2019_07_23
http://digital.foodbusinessnews.net/sosland/fbn/2019_07_09
http://digital.foodbusinessnews.net/sosland/fbn/2019_06_25
http://digital.foodbusinessnews.net/sosland/fbn/2019_06_11
http://digital.foodbusinessnews.net/sosland/fbn/2019_05_28
http://digital.foodbusinessnews.net/sosland/fbn/2019_05_14
http://digital.foodbusinessnews.net/sosland/fbn/2019_04_30
http://digital.foodbusinessnews.net/sosland/fbn/2019_04_16
http://digital.foodbusinessnews.net/sosland/fbn/2019_04_02
http://digital.foodbusinessnews.net/sosland/fbn/2019_03_19
http://digital.foodbusinessnews.net/sosland/fbn/2019_03_05
http://digital.foodbusinessnews.net/sosland/fbn/2019_02_19
http://digital.foodbusinessnews.net/sosland/fbn/2019_02_05
http://digital.foodbusinessnews.net/sosland/fbn/2019_01_22
http://digital.foodbusinessnews.net/sosland/fbn/2019_1_8
http://digital.foodbusinessnews.net/sosland/fbn/2018_12_25
http://digital.foodbusinessnews.net/sosland/fbn/2018_12_11
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http://digital.foodbusinessnews.net/sosland/fbn/2018_10_16
http://digital.foodbusinessnews.net/sosland/fbn/2018_10_02
http://digital.foodbusinessnews.net/sosland/fbn/2018_09_18
http://digital.foodbusinessnews.net/sosland/fbn/2018_09_04
http://digital.foodbusinessnews.net/sosland/fbn/2018_08_21
http://digital.foodbusinessnews.net/sosland/fbn/2018_08_07
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http://digital.foodbusinessnews.net/sosland/fbn/2018_07_10
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http://digital.foodbusinessnews.net/sosland/fbn/2018_06_12
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http://digital.foodbusinessnews.net/sosland/fbn/2018_05_15
http://digital.foodbusinessnews.net/sosland/fbn/2018_05_01
http://digital.foodbusinessnews.net/sosland/fbn/2018_04_17
http://digital.foodbusinessnews.net/sosland/fbn/fbn_2018_04_03
http://digital.foodbusinessnews.net/sosland/fbn/2018_03_20
https://www.nxtbook.com/sosland/fbn/2018_03_06
https://www.nxtbook.com/sosland/fbn/2018_02_20
https://www.nxtbook.com/sosland/fbn/2018_02_06
https://www.nxtbook.com/sosland/fbn/2018_01_23
https://www.nxtbook.com/sosland/fbn/2018_01_09
https://www.nxtbook.com/sosland/fbn/2017_12_26
https://www.nxtbook.com/sosland/fbn/2017_12_12
https://www.nxtbook.com/sosland/fbn/2017_11_28
https://www.nxtbook.com/sosland/fbn/2017_11_14
https://www.nxtbook.com/sosland/fbn/2017_10_31
https://www.nxtbook.com/sosland/fbn/2017_10_17
https://www.nxtbook.com/sosland/fbn/2017_10_03
https://www.nxtbook.com/sosland/fbn/2017_09_19
https://www.nxtbook.com/sosland/fbn/2017_09_05
https://www.nxtbook.com/sosland/fbn/2017_08_22
https://www.nxtbook.com/sosland/fbn/2017_08_08
https://www.nxtbook.com/sosland/fbn/2017_07_25
https://www.nxtbook.com/sosland/fbn/2017_07_11
https://www.nxtbook.com/sosland/fbn/2017_06_27
https://www.nxtbook.com/sosland/fbn/2017_06_13
https://www.nxtbook.com/sosland/fbn/2017_05_30
https://www.nxtbook.com/sosland/fbn/2017_05_16
https://www.nxtbook.com/sosland/fbn/2017_05_02
https://www.nxtbook.com/sosland/fbn/2017_04_18
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https://www.nxtbook.com/sosland/fbn/2017_03_21
https://www.nxtbook.com/sosland/fbn/2017_03_07
https://www.nxtbook.com/sosland/fbn/2017_02_21
https://www.nxtbook.com/sosland/fbn/2017_02_07
https://www.nxtbook.com/sosland/fbn/2017_01_24
https://www.nxtbook.com/sosland/fbn/2017_01_10
https://www.nxtbook.com/sosland/fbn/2016_12_27
https://www.nxtbook.com/sosland/fbn/2016_12_13
https://www.nxtbook.com/sosland/fbn/2016_11_29
https://www.nxtbook.com/sosland/fbn/2016_11_15
https://www.nxtbook.com/sosland/fbn/2016_11_01
https://www.nxtbook.com/sosland/fbn/2016_10_18
https://www.nxtbook.com/sosland/fbn/2016_10_04
https://www.nxtbook.com/sosland/fbn/2016_09_20
https://www.nxtbook.com/sosland/fbn/2016_09_06
https://www.nxtbook.com/sosland/fbn/2016_08_23
https://www.nxtbook.com/sosland/fbn/2016_08_09
https://www.nxtbook.com/sosland/fbn/2016_07_26
https://www.nxtbook.com/sosland/fbn/2016_07_12
https://www.nxtbook.com/sosland/fbn/2016_06_28
https://www.nxtbook.com/sosland/fbn/2016_06_14
https://www.nxtbook.com/sosland/fbn/2016_05_31
https://www.nxtbook.com/sosland/fbn/2016_05_17
https://www.nxtbook.com/sosland/fbn/2016_05_03
https://www.nxtbook.com/sosland/fbn/2016_04_19
https://www.nxtbook.com/sosland/fbn/2016_04_05
https://www.nxtbook.com/sosland/fbn/2016_03_22
https://www.nxtbook.com/sosland/fbn/2016_03_08
https://www.nxtbook.com/sosland/fbn/2016_02_23
https://www.nxtbook.com/sosland/fbn/2016_02_09
https://www.nxtbook.com/sosland/fbn/2016_01_26
https://www.nxtbook.com/sosland/fbn/2016_01_12
https://www.nxtbook.com/sosland/fbn/2015_12_29
https://www.nxtbook.com/sosland/fbn/2015_12_15
https://www.nxtbook.com/sosland/fbn/2015_12_01
https://www.nxtbook.com/sosland/fbn/2015_11_17
https://www.nxtbook.com/sosland/fbn/2015_11_03
https://www.nxtbook.com/sosland/fbn/2015_10_20
https://www.nxtbook.com/sosland/fbn/2015_10_06
https://www.nxtbook.com/sosland/fbn/2015_09_22
http://digital.foodbusinessnews.net/sosland/fbn/09_08_2015
https://www.nxtbook.com/sosland/fbn/2015_08_25
https://www.nxtbook.com/sosland/fbn/2015_08_11
https://www.nxtbook.com/sosland/fbn/2015_07_28
https://www.nxtbook.com/sosland/fbn/2015_07_14
https://www.nxtbook.com/sosland/fbn/2015_06_30
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https://www.nxtbook.com/sosland/fbn/2015_06_02
https://www.nxtbook.com/sosland/fbn/2015_05_19
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https://www.nxtbook.com/sosland/fbn/2015_04_21
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https://www.nxtbook.com/sosland/fbn/2014_12_30
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https://www.nxtbook.com/sosland/fbn/2013_12_31
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http://digital.foodbusinessnews.net/sosland/fbn/2013_09_24
http://digital.foodbusinessnews.net/sosland/fbn/2013_09_10
http://digital.foodbusinessnews.net/sosland/fbn/2013_08_27
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http://digital.foodbusinessnews.net/sosland/fbn/2013_07_30
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https://www.nxtbook.com/sosland/fbn/2012_07_31
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https://www.nxtbook.com/sosland/fbn/2012_07_03
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https://www.nxtbook.com/sosland/fbn/2012_06_05
https://www.nxtbook.com/sosland/fbn/2012_05_22
https://www.nxtbook.com/sosland/fbn/2012_05_08
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https://www.nxtbook.com/sosland/fbn/2011_11_22
https://www.nxtbook.com/sosland/fbn/2011_11_08
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