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Continued: Don’t bet against cereal, General Mills executives say

  • Article by: MIKE HUGHLETT , Star Tribune
  • Last update: September 19, 2013 - 6:12 AM

As for General Mills’ struggling U.S. yogurt business, its new Greek 100 offering continued to have strong sales. Powell told analysts that the company’s Greek business grew more than twice as fast during the quarter as the overall Greek-style yogurt segment. But General Mills’ Greek share remains relatively small, and quarterly U.S. Yoplait sales only matched year-ago results.

On the international front, General Mills sales were up 22 percent, led by growth through acquisitions. Operating profits in international were flat over the same time a year ago.

That was due partly to a large increase — 15 percent — in advertising spending internationally, Chief Financial Officer Don Mulligan said in an interview with the Star Tribune.

Also, international operations bore the brunt of input cost increases early in the year, particularly due to higher dairy prices in Europe.

General Mills executives Wednesday reaffirmed their sales and earnings guidance for fiscal year 2014.

 

Mike Hughlett • 612-673-7003







 

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  • The “Big G” cereal business and a new Greek 100 yogurt posted strong sales in the first quarter, and there were fresh offerings in snacks and baking products.

  • The “Big G” cereal business and a new Greek 100 yogurt posted strong sales in the first quarter, and there were fresh offerings in snacks and baking products.

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  • KenPowellGLEN STUBBE • gstubbe@startribune.com -- Thursday, May 27, 2010 -- Golden Valley, MN -- ] Ken Powell, General Mills CEO. ORG XMIT: MIN2012101717362274

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