Cheerios-owner General Mills beats quarterly sales estimates By Reuters
(Reuters) – Cheerios maker General Mills Inc (NYSE:) reported better-than-expected first-quarter sales on Wednesday, as strong growth in its pet foods business cushioned a slowdown in demand for its cooking sauces and baking products.
General Mills Blue Buffalo is a premium pet brand. This has helped to boost the number of pets purchased by customers who have been unable or unwilling to adopt dogs and cats in order help with the panic caused by the epidemic.
The quarter saw net sales at General Mills’ pet food division rise 25% to $488million, according to reports.
According to data from Refinitiv, total net sales increased to $4.54 Billion in the period ended August 29, compared to $4.36 Billion a year ago. This beat the average analyst estimate of $4.29Billion.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. You should be aware of the potential risks and financial costs involved in trading the financial market. It is among the most risky forms of investment.