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Cos. milk new products in struggling sector
Rising commodity costs and brutal competition have been squeezing profits from the ready-to-eat cereal category. Dollar sales for the 52-week period ended Dec. 26, 2010, were down 3%, according to SymphonyIRI Group. Sue Viamari, editor of SymphonyIRI’s Times and Trends, said the category has been in decline during the past several quarters, and there was a 0.7% decline in price per volume during the same period.