WK Kellogg Co. plans to restate its 2024 audited financial statements after finding it overstated the costs of producing goods it sold.
The company behind cereals like Frosted Flakes said in a Form 8-K report filed with the US Securities and Exchange Commission Thursday that an error caused an overstatement of costs of goods sold and a corresponding understatement of inventory of about $11 million for its fiscal year that ended Dec. 28, 2024. The error related to “inventory adjustments that inadvertently double-counted certain manufacturing expenses,” the filing said.
Ferrero International SA—the maker of the chocolate nut spread ...
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