Reading Time: 2 minutes General Mills cut its annual core sales and profit forecasts on Tuesday as the Cheerios cereal maker contends with a volatile economic backdrop and evolving consumer tastes.
Tag Archives General Mills
General Mills cuts annual outlook as shoppers seek cheaper options
General Mills keeps annual outlook as North America demand softens
Reading Time: 2 minutes General Mills maintained its annual sales and profit forecasts on Wednesday, as the Cheerios maker grapples with rising economic uncertainty and softer demand in key markets, including North America.
General Mills changing Nature Valley labels after lawsuit’s glyphosate claim
Reading Time: 2 minutes General Mills Inc agreed to stop calling the oats in its Nature Valley granola bars 100 percent natural to settle a lawsuit by three consumer groups that said the bars contained small amounts of glyphosate herbicide, commonly known as Roundup.
General Mills forecasts weak annual profit as economic uncertainty weighs
Reading Time: 2 minutes General Mills forecasted annual profit below expectations on Wednesday, as weak demand for its refrigerated baked goods and snacks in the U.S. in a tariff-driven, uncertain macroeconomic background weighed on the Pillsbury owner.
General Mills restructures as company deals with choppy demand
Reading Time: < 1 minute General Mills said on Tuesday it would record a charge of about $70 million in its current quarter, mainly reflecting severance expenses, as part of the Cheerios cereal maker's restructuring efforts.
General Mills cuts profit outlook as promotions rise to win back consumers
Reading Time: 2 minutes General Mills slashed its annual profit forecast on Wednesday as the Cheerios cereal maker ramped up investments in promotions to attract cost-conscious consumers, sending shares down about three per cent in early trading.
Chlormequat found in oat foods prompts U.S. lawsuits
Class action suits rely on Environmental Working Group scientists who claim much lower safe limit than EPA
Reading Time: < 1 minute Chlormequat use in oat production has prompted two class action lawsuits in California against General Mills and Quaker Oats.
‘Shocking’ farm videos barred at egg-price antitrust trial in Chicago
Food firms sought to show animal care claims not genuine
Reading Time: 2 minutes Reuters — A U.S. judge has barred Kraft, Kellogg and other major food producers from showing what the court called “shocking” and “heart-wrenching” videos of conditions inside certain hen houses at an upcoming antitrust trial against egg producers and marketers. In a ruling on Tuesday, U.S. District Judge Steven Seeger in Chicago said the risk […] Read more
Packaged-food majors see sales spike in pandemic
Big brands may benefit from larger, more secure supply chains
Reading Time: 2 minutes Reuters — General Mills on Monday said it saw record demand for its pantry staples, becoming the latest packaged food maker to see business spike during the COVID-19 pandemic, as homebound shoppers stocked up on comfort foods during lockdowns. The company joins Nomad Foods, Premier Foods, Nestle, Mondelez and other processed food makers, which have […] Read more
Viterra buys up all of North Dakota grain terminal
Reading Time: < 1 minute Viterra has bought up the other half of a U.S. joint-venture grain terminal the company helped build in its SaskPool days. The Regina-based grain handling arm of commodity firm Glencore announced Thursday it has closed a deal to buy U.S. food processor General Mills’ 50 per cent stake in the two companies’ grain terminal at […] Read more
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