On Wednesday, General Mills reported its first-quarter financial results, including a 4 percent increase in U.S. cereal sales compared with the first quarter last year. The quarterly growth was a reversal of the trend in U.S. cereal sales.
U.S. cereal sales from General Mills, Kellogg and others have declined for three straight years. For the year ended May 26, Golden Valley-based General Mills had reported a 2 percent decline in U.S. cereal sales.
Jack Russo, an analyst at Edward Jones, told the Star Tribune: "The category has been weak, but I think [General] Mills responded to that appropriately, saying they are big believers in the category long-term."
Polaris takes new motorcycles on the road
Feltl and Co. analyst Mark Smith followed Polaris executives on an East Coast non-deal roadshow where Polaris executives talked up their new product offerings, including three Indian motorcycles that just started shipping. Smith wrote of the Indian launch in an investor note: "We think the launch is going well with strong presales and a great reception in both industry media and consumer perception."
Patrick Kennedy
