Cheerios maker General Mills stock tumbles after sales disappoint [CNBC]
General Mills, Inc. (GIS)
Last general mills, inc. earnings: 3/18 07:00 am
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Source: CNBC
Cheerios maker General Mills stock tumbles after sales disappoint Shares of General Mills The company's stock, which has a market value of $29.6 billion, fell by 8% during morning trading. Net sales for General Mills' North American retail segment, which accounts for more than half of the company's revenue, fell 2% during its fiscal-fourth quarter ended May 26. It partially attributed the drop to a decline in its U.S. snacks business, which includes its popular Chex Mix and Nature Valley granola bars. The company said U.S. retail sales for its meals and baking, yogurt and cereal segments were unchanged from a year ago. The Minneapolis-based food giant has been trying to adapt to changing consumer tastes as its sales growth has slowed. Revenue rose 7% during the quarter to $4.16 billion, thanks to the company's acquisition of Blue Buffalo Pet ducts. Net sales still fell short of average estimates by analysts surveyed by Refinitiv. They were expecting revenue of $4.24 billion. The comp
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GIS
Earnings
- 3/20/24 - Beat
GIS
Sec Filings
- 4/18/24 - Form FWP
- 4/18/24 - Form 424B5
- 4/10/24 - Form SC
- GIS's page on the SEC website