) quarterly revenue and profit beat Wall Street expectations on Tuesday, as demand for its Pringles and Cheez-It snacks, as well as frozen foods cushioned the impact of sluggish sales for its cereals in North America.
The efforts boosted organic net sales for snacks in North America, its largest market, to rise 5.2% in the third quarter. “So much has been made lately of the emerging ready-to-cook or refrigerated meat alternatives segment and there is no question that this segment has terrific momentum and growth prospect,” Chief Executive Officer Steve Cahillane told analysts on the earnings call.
It was back-to-school time.
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