Reported 11 months ago
General Mills, the maker of Cheerios cereal, reported a bigger-than-expected drop in quarterly sales due to lower demand for snack bars and pet food, as well as higher input costs. The company's CEO mentioned ongoing macroeconomic uncertainty affecting consumer behavior, with consumers opting for lower-priced private labels. General Mills expects annual profit to be below estimates, with North America retail segment sales falling 7% and adjusted profit per share at $1.01.
Source: YAHOO