Kellogg's is scraping the bottom of the bowl when it comes to cereal.
Kellogg's is scraping the bottom of the bowl when it comes to cereal. - 
Listen To The Story
Marketplace

Kellogg's, maker of Froot Loops, Apple Jacks and Corn Flakes, could be drying up.

Americans aren't buying cereal like they used to. And that's led to a sales slump: Profits were down 16 percent last quarter.

Another factor is that cereals like Special K used to be popular because they were low-calorie. Now, however, Kellogg's CEO says Americans have become more interested in foods that are "more nutritious."

Follow David Gura at @davidgura