Kellogg Beats Revenue Estimates on Higher Prices

WK Kellogg Co. beat Wall Street estimates for quarterly sales on Tuesday, as higher product prices offset pressure from slowing demand for the Froot Loops maker's ready-to-eat breakfast items and snacks. Like other major brands in the packaged food market, the spun-off North American cereal business of Kellanova has been ramping up prices to shield its margins from an inflation-induced slowdown in consumer spending. Its pricing rose by 6.3% in the reported quarter, driving volumes down 7%. Kellanova had also posted better-than-expected quarterly sales and profit last week and maintained...