General Mills’ revenue slides as customers choose fresh options
US food giant General Mills most recent quarter revenue decline was less steep than analysts had expected.
General Mills, which makes Haagen-Dazs ice cream and Cheerios cereal, is trying to get into shape as consumers opt for healthier food.
The company reported a profit of $379.6m (£282.6m) over the past three months, up from $186.8m a year earlier. Revenue was 8.6 per cent down to $3.93bn. A poll of analysts had predicted revenue of $3.86bn.
General Mills bought organic food company Annie’s in 2014, and recently sold its frozen veg line Green Giant for $822.7m.