Tags: General Mills | Profit | Earnings | Sales

General Mills Sales Drop for Sixth Straight Quarter

Wednesday, 18 Mar 2015 05:47 AM

General Mills Inc., the maker of Bisquick and Betty Crocker cake mixes, reported lower sales for the sixth straight quarter, hurt by a stronger dollar.

The company also said on Wednesday that it would cut a total of about 800 jobs, primarily in the United States.

General Mills said in January that it would close plants in Midland, Ontario, Canada and New Albany, Indiana, cutting about 500 jobs.

The company's sales outside the United States fell 7 percent in the third quarter ended Feb. 22.

Net income attributable to General Mills fell to $343.2 million, or 56 cents per share, from $410.6 million, or 64 cents per share, a year earlier.

Net sales declined 0.6 percent to $4.35 billion.

© 2017 Thomson/Reuters. All rights reserved.

 
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General Mills Inc., the maker of Bisquick and Betty Crocker cake mixes, reported lower sales for the sixth straight quarter, hurt by a stronger dollar.
General Mills, Profit, Earnings, Sales
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2015-47-18
Wednesday, 18 Mar 2015 05:47 AM
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