General Mills: Long Courtship of Penny-pinchers is Paying Off
Dow Jones
Jul 02
General Mills shares are up 8% after the Cheerios maker said it's seeing payoff after a year of cutting base prices on its products.
"Rather than hope for the consumer to improve, we are moving with even greater urgency to meet consumers where they are and capture more of the growth that's currently available," said CEO Jeff Harmening.
Now that the price cuts are mostly complete, General Mills is looking for growth to come from new protein- and fiber-heavy offerings, along with bolder flavors.
The Minnesota company's quarterly results on Tuesday topped expectations for adjusted profit and sales, though its shares remain about 25% lower over the past 12 months.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.