Welcome to our dedicated page for Kellanova news (Ticker: K), a resource for investors and traders seeking the latest updates and insights on Kellanova stock.
Kellanova (NYSE: K), formerly part of the Kellogg Company, is a global leader in the production and marketing of snacks and packaged foods. With a legacy stretching back over 100 years and annual sales surpassing $13 billion, Kellanova offers a diverse product portfolio that includes iconic brands like Pringles®, Cheez-It®, Pop-Tarts®, Eggo®, and MorningStar Farms®. As a powerhouse in the snacking industry, Kellanova's products are manufactured in around 20 countries and marketed in more than 180 countries worldwide.
Following its strategic split from the North American cereal business, Kellanova has focused on becoming a leader in salty snacks, snack bars, frozen breakfast items, meat alternatives, and other packaged foods. The company’s commitment to sustainability and equitable food access is embodied in its ambitious goal to create Better Days for 4 billion people by 2030.
Kellanova has recently made headlines with several notable initiatives. For instance, their brand Eggo® has partnered with the National Black Growers Council (NBGC) to support Black farmers through grants aimed at improving farming efficiency and productivity. This partnership aligns with Kellanova's mission of fostering sustainable and equitable food systems.
Moreover, the launch of the Eggo House of Pancakes in Gatlinburg, Tennessee, offers a unique vacation experience, reinforcing Eggo's brand while providing chaos-free mornings for guests. Not to be outdone, Hidden Valley Ranch and Cheez-It® have collaborated to introduce a new product, Cheezy Ranch, combining the rich flavors of ranch and cheese into a delectable dipping sauce.
In terms of financial performance, Kellanova has shown consistent growth, with net sales reaching $13 billion in 2023. The company continues to innovate and expand its product offerings while leveraging advanced AI technologies to optimize supply chain efficiencies, improve e-commerce search, and better understand consumer needs.
With a clear vision to become the world's best-performing snacks-led powerhouse, Kellanova is well-positioned for future growth. Under the leadership of Steve Cahillane, Chairman, President & CEO, and Amit Banati, Vice Chairman & CFO, the company remains committed to delivering value to its stakeholders while advancing sustainable and equitable food access globally.
For more detailed information, visit Kellanova's website and stay updated on their latest developments and financial results.
Kellanova's Chief Technology Officer, Ramesh Kollepara, shared insights on the company's AI strategy at the LEAP 2024 tech conference in Saudi Arabia. Kellanova aims to drive business success through AI by equipping its workforce with relevant skills via its YODA program. The company is focusing on technical, soft, and industry-specific skills. They are also establishing AI guardrails by converting business problems into data problems, ensuring governance, and maintaining clean data. Their 'Kuriosity Clinics' have engaged nearly 6,000 employees in exploring AI. These efforts have optimized supply chains, improved e-commerce, and enhanced consumer insights.
Taco Bell and Kellanova have partnered to launch the Big Cheez-It Crunchwrap Supreme and the Big Cheez-It Tostada. Both items feature a Cheez-It cracker that is 16 times larger than the original. The Big Cheez-It Crunchwrap Supreme includes seasoned beef, nacho cheese sauce, lettuce, sour cream, and tomatoes, wrapped in a tortilla. The Big Cheez-It Tostada includes seasoned beef, tomatoes, lettuce, shredded cheese, and sour cream atop the oversized cracker. These items will be available to Taco Bell Rewards Members via the app from May 30 and nationwide from June 6.
Kellanova (NYSE: K) will host two significant fireside chats in June 2024. The first event will be at Deutsche Bank's dbAccess Global Consumer Conference in Paris, live-streamed on June 6 at 2:30 AM EST (8:30 AM CEST). The second event will take place at Evercore ISI's Consumer and Retail Conference on June 11 at 9:30 AM EST. Both sessions will feature Steve Cahillane, the company's Chairman, President, and CEO. Replays and transcripts will be available on Kellanova's investor website.
Kellanova and Albertsons have partnered to combat food insecurity in southern Montana, specifically aiding Billings Public Schools. Kellanova has donated $15,000 to the Education Foundation for Billings Public Schools to support summer meal programs for students. Over 7,000 students rely on school meals for daytime nutrition, with more than 1,000 receiving weekend and evening nutrition through BackPack meals or school pantries each week. The funds will bolster the district's Munch Mobile, a van distributing meals, books, and hygiene products to 200 students weekly during summer. This initiative is part of Kellanova's Better Days™ Promise, aiming to feed 400 million people in need by 2030.
Cheez-It has opened the Cheez-In Diner in Woodstock, NY, just two hours outside New York City. The diner will be open from May 20 to May 26, offering a unique menu featuring Cheez-It infused items like a Deluxe Cheez-It Milkshake and Extra Cheezburger. The diner aims to attract road trippers with its retro decor and unique attractions like the world's first Cheez-It jukebox. Additional features include a merch shop, a Cheez-It Taste-It Station, and various side dishes and desserts made with Cheez-It crackers. The diner will be open late during Memorial Day Weekend.
Pringles has launched a new -edition flavor, Minecraft Spicy TNT, to celebrate the 15th anniversary of Minecraft. This collaboration follows the 2023 release of Minecraft's Suspicious Stew flavor. The Spicy TNT flavor features a combination of spicy peppers and cheese, embodying the explosive energy of TNT from the game.
Available nationwide starting in May 2024, this new flavor aims to enhance gaming sessions with bold taste. Additionally, fans who purchase Pringles or other Kellanova products can earn 350 Minecoins and participate in the Build for Better program, which includes a chance to design a real-life playground.
The promotion runs until July 31, 2024, encouraging community engagement and supporting Kellanova's Better Day's Promise for sustainable and equitable access to food.
Cheez-It has announced a multi-year sponsorship with the Indiana Fever, making it the first official snack of the team. This marks Cheez-It's first professional basketball sponsorship. The deal includes branding on practice jerseys, LED signage in the arena, and fan engagement activities, such as the Cheez-It Threez-It Challenge, where fans can win free crackers if the team scores a high number of three-pointers. The partnership begins on May 16, 2024, aligning with the Fever's first home game of the season. Cheez-It aims to enhance the game-day experience for fans, celebrating the talent of the athletes and deepening its roots in sports culture.
Eggo® launches its most protein-packed waffles ever, along with a custom pair of sneakers called Eggo Fully Loaded Kicks in two flavors. The collaboration with The Surgeon and SRGN brings innovative waffle-grid-bottomed sneakers handcrafted in Los Angeles, supporting a great cause. Fans can shop -edition kicks online, with proceeds benefiting No Kid Hungry. Eggo also introduces new waffle flavors and pledges to create better days through sustainable initiatives.
Pringles introduces its first-ever puffed snack, Pringles Mingles, offering a new way to enjoy their iconic crisps in a shareable and delicious format. Available in three mouthwatering flavors, the puffy snacks promise a melt-in-your-mouth experience with a unique bowtie shape inspired by Mr. P's signature look. The lineup includes Cheddar & Sour Cream, Sharp White Cheddar & Ranch, and Dill Pickle & Ranch varieties. These innovative snacks are set to hit shelves in October, offering fans a new snacking adventure.
STAAR Surgical Company reported a 5% increase in net sales to $77.4 million for the first quarter of 2024. The company saw a 9% growth in ICL sales and a 2% increase in units. Gross margin was at 78.9%, and adjusted EBITDA was $5.3 million or $0.11 per share. However, there was a net loss of $3.3 million or $0.07 loss per share compared to net income of $2.7 million or $0.05 income per share in the previous year. STAAR Surgical reiterated its fiscal 2024 net sales outlook range of $335 million to $340 million and expects to be at the higher end of the range. Cash, cash equivalents, and investments available for sale were $252.1 million at the end of March 29, 2024.
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