General Mills CEO talks growth outlook tied to cereals, dry pet food

📆 9/20/2023 8:34 PM
📰 YahooFinanceCA

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General Mills (GIS) reported better-than-expected first-quarter earnings, narrowly outpacing adjusted earnings per share and revenue while seeing net sales trend higher. General Mills Chairman and CEO Jeff Harmening joins Yahoo Finance Executive Editor Brian Sozzi to discuss value trends hitting the sale of Blue Buffalo pet products and its cereal brands. 'In the short-term, it is clear that... pet parents are more mobile than they have been and going back to the office more. So they're treating less, little bit less wet pet food,' Harmening says. 'So, that was a drag on our sales. However, our dry pet food sales were up, so that's positive.' Harmening goes on to talk about its innovation and prominence in its snacking and cereal categories. 'We're always focused on market share because it's one of the things that we can control, and we've grown our market share in more than 50% of our categories for five years in a row. It's because we're focused on advertising,' Harmening explains. Lastly, Harmening comments on acquisitions in the food space and how the Cheerios-maker is addressing inflation. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

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After 11 a.m., the city said Elgin Street was closed southbound between Wellington Street and Laurier Avenue and around 11:30 the city said Elgin was now open and Bank was closed between Laurier and Wellington, as the protest moved through downtown.The protestsKing Charles' former pilot Graham Laurie told HELLO! about his experience travelling with Princess Anne, who swapped "poncey first class food" for "tarted up" tinned food.

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Disney's park investment, Instacart stock, General Mills earnings: Top StocksStocks tick up in the morning session in anticipation of the Fed's interest rate decision later today. Disney (DIS) plans to invest $60 billion into its theme parks and cruise lines over the next decade. Instacart (CART) shares tumble this morning in its first full trading day after its IPO debut yesterday. Lastly, General Mills (GIS) posted its first-quarter earnings, narrowly topping adjusted earnings per share and reporting revenue growth amid inflation. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
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