Kellogg Co. announced that fourth quarter 2013 reported net sales were $3.5 billion, a decrease of 1.7 percent from the fourth quarter of 2012. Fourth quarter internal net sales decreased by 0.9 percent. Full-year 2013 reported net sales increased by 4.2 percent to $14.8 billion, an increase of $595 million from full-year 2012 results. Full-year internal net sales increased by 0.3 percent. Internal results exclude the effects of foreign currency translation, acquisitions, dispositions and integration costs.
Kellogg North America's reported net sales declined by 2.8 percent in the fourth quarter and increased by 1.9 percent for the full year. Internal net sales declined by 2.6 percent for the fourth quarter and by 0.9 percent for the full year. The U.S. morning foods segment posted a decrease in internal net sales of four percent in the fourth quarter and a decrease of 1.9 percent for the full year. U.S. snacks posted a decline in internal net sales of 3.5 percent in the fourth quarter and a decline of 2.9 percent for the full year. The U.S. specialty channels business posted strong internal net sales growth of 5.1 percent in the fourth quarter and 4.1 percent for the full year. The North America other business posted a decline in internal net sales of 2.9 percent in the fourth quarter and an increase of 2.2 percent for the full year.
North American reported operating profit decreased by 36.1 percent in the fourth quarter, primarily due to the effect of costs related to Project K. Reported operating profit declined by 6.2 percent for the full year. Underlying internal operating profit decreased by 2.9 in the fourth quarter and by 0.9 percent for the full-year. Full report.
