INCOME

General Mills sales fall for fifth straight quarter

subhadip

Annie's Inc. pasta is arranged for a photograph alongside General Mills Inc. cereals in a kitchen in Tiskilwa, Illinois.

General Mills reported a drop in quarterly net sales for the fifth straight quarter, hurt mainly by weak demand for its Yoplait yogurt and Progresso soup and the sale of its Green Giant frozen vegetable business.

The maker of Cheerios cereal said net earnings attributable to the company fell to $409 million, or 67 cents per share, in the first quarter ended Aug. 28 from $426.6 million, or 69 cents per share, a year earlier.

The company’s net sales fell 7 percent to $3.91 billion.

 

 

[Source:- CNBC]