General Mills (NYSE:GIS) announced third-quarter results that beat analysts’ expectations on Wednesday and posted sales in line with forecasts.
Demand for Groceries is Still HighThe maker of cereal, snack bar, and pet food raised its full-year sales and profit forecast, encouraged by higher prices and strong demand for its products. The surge in demand for groceries due to the pandemic has continued, boosting General Mills sales as people cook more at home at a time when restaurants have hiked menu prices to offset the inflation.
General Mills Chairman and CEO Jeff Harmening said: ...
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General Mills Raises Full-Year Guidance Thanks to Higher Prices