date:Nov 05, 2012
early in the year, in response to previous price increases, certainly had the most significant impact in the first two quarters, although obviously the situation has improved sequentially as pricing moderated as weve moved through the year.
Mr. Denholm said cereal posted net sales growth of 6% during the third quarter, driven by innovation, an increase in the level of brand building and an easier shipment comp. He said the companys cereal innovation strategy involves having the right level of