Shares of Kellogg Co. /zigman2/quotes/209631250/composite K +1.73% slipped 0.2% in premarket trading Thursday, after the cereal and snacks company reported fourth-quarter profit and sales that missed expectations, but pointed toward surprise growth in full-year earnings. Net income for the quarter to Jan. 2 rose to $385 million, or 59 cents a share, from $360 million, or 42 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share slipped to 86 cents from 91 cents, but below the FactSet consensus of 89 cents. Sales rose 7.5% to $3.46 billion, but came up shy of the FactSet consensus of $3.51 billion. Europe showed the strongest growth with sales rising 15%, led by cereal. North America sales rose 8%, as strength in retail channel sales helped offset weakness in away-from-home channels. For 2021, the company expects adjusted EPS to rise about 1%, while the current FactSet EPS consensus of $3.96 implies a 0.8% decline. The stock has dropped 11.4% over the past three months through Wednesday, while the SPDR Consumer Staples Select Sector ETF /zigman2/quotes/200697959/composite XLP +1.24% has eased 1.4% and the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.84% has gained 9.4%.