GIS - General Mills Can't Keep Up With Its Big Opportunity
Consumer staples companies are facing a host of headwinds today, including inflation and supply chain snafus. That has investors watching the industry closely for companies with slowing sales, rising costs, or trouble pushing through price hikes.
Industry titan General Mills (NYSE: GIS), hasn't escaped these challenges, but a closer look at the company also shows some areas of opportunity -- including two products in particular within its stable of brands. Let's dive in.
When food maker General Mills reported fiscal first-quarter 2023 earnings (for the period ended Aug. 28), the headline number was the 10% year-over-year organic sales growth it achieved. That's pretty impressive, but the real story is just below the surface. The company was able to push through 15% price hikes, which were offset by a 5% decline in volume.
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General Mills Can't Keep Up With Its Big Opportunity