Kellogg, based in Battle Creek, Michigan, is the world's leading breakfast cereal manufacturer and a major producer of snacks and convenience foods, with 2020 sales of $13.8 billion. Kellogg sells its products in more than 180 countries and has manufacturing facilities in 21 countries. Forty percent of 2020 sales came from outside the U.S. The company's brands include Kellogg's Corn Flakes, Frosted Flakes, Rice Krispies, Pop-Tarts, Eggo waffles, Pringles, Morningstar Farms, Gardenburger, and Cheez-It. The company also owns the trademarks Snap! Crackle! Pop! and 'L'Eggo my Eggo' as well as Tony the Tiger. Kellogg now has five reporting divisions following the reorganization and consolidation of the North America business. The other divisions are Europe; Latin America; Asia, Middle East, Africa; and Corporate. The company's fiscal year ends on the Saturday closest to December 31. As a result, the company's fiscal year has 53 weeks approximately once out of every six years. 2020 was a 53-week year.
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Chris Graja, CFASenior Analyst: Retail