He promised Quaker next year will focus "our spending directly on innovation and execution at the distributor level," to "put a floor under Snapple." Gatorade volume was also down 4% "but performed well relative to last year's 17% increase, which was aided by extremely hot temperatures," Quaker said.
The company also reported North American food division sales of $687.3 million were 2% above last year, despite the 15% price decrease taken in ready-to eat cereals. Mr. Smithburg said Quaker "held our [cereal] advertising and merchandising basically even in the quarter," despite the price cut.
Copyright October 1996, Crain Communications Inc.