Post Holdings (NYSE:POST) released Q1 results and you have to start shaking your head. Just recently spun off from Ralston Purina (Xetra:RAL) after it was purchased from Kraft (NYSE:KFT). Revenues are off in part because of competition. What, because of competition. That’s what they said “Management believes the category volume decline is largely attributable to higher every day and promoted average prices and increased competition from cereal substitutes such as quick service restaurants and other breakfast items. Hey buddy that’s not a good explain of the situation. What are you doing about it.
George Gutowski writes from a caveat emptor perspective.