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.
Tag Archives General Mills
General Mills keeps annual outlook as North America demand softens
General Mills changing Nature Valley labels after lawsuit’s glyphosate claim
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
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
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
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
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
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
Funding expands for regenerative agriculture
General Mills and ALUS announce $2.3-million partnership
Regenerative agriculture proponents in Manitoba and Saskatchewan are getting another $2.3 million to work with. On July 27, food giant General Mills and stewardship organization ALUS announced the funds as part of “a multi-year partnership to support farmers and accelerate regenerative agriculture” in the two provinces. In a joint statement released on the ALUS website,
General Mills misses quarterly profit estimates
General Mills Inc. missed Wall Street estimates for quarterly profit Dec. 21, as the Cheerios cereal maker grappled with soaring prices of raw materials and higher costs of freight and labour. Shares of the Minneapolis, Minnesota-based company were down about four per cent in pre-market trade. Prolonged supply chain disruptions and a shortage of truck
Packaged-food majors see sales spike in pandemic
Big brands may benefit from larger, more secure supply chains
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
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