BATTLE CREEK, Michigan: The Kellogg Company has pledged to pump extra dollars into its advertising budget in order to shift more cereals off supermarket shelves and onto US breakfast tables.
There will be a double-digit percentage rise in adspend during the fourth quarter as part of its strategy to offset increasing commodity costs.
Q3 revenue, which was also boosted by increased adspend, rose 6.4% to $3 billion (€2.08bn; £1.45bn) and net income climbed 9% to $305 million.
Declares ceo David Mackay: "Despite ongoing inflation challenges, we will continue to invest in our business through advertising and cost-saving initiatives, which gives us increased visibility for future growth."
Data sourced from Wall Street Journal Online; additional content by WARC staff