Kellogg Co. raised its forecast for full-year earnings on Thursday after topping estimates for quarterly sales, as higher prices for its breakfast cereals and snacks helped it overcome cost-related challenges.
The company recently announced a three-way breakup to create businesses focused on snacks, cereals, and plant-based meat.
Kellogg, like other global packaged food makers, has been largely successful in raising product prices to counter spiraling costs of freight, labor, and ingredients without drawing the ire of consumers.
However, analysts are warning that the company could hit a ceiling on price hikes as households tighten their bets amid raging inflation that shows no sign of cooling….