Cheerios maker General Mills attributes its estimate-beating quarterly results to higher pricing and signals it is ready to take on surging costs as inflation-hit Americans eat at home more to save money.
“As consumers become more concerned about the economic reality, the first thing they tend to do is eat more at home," CEO Jeff Harmening said.Robert Nickelsberg / Getty ImagesGeneral Mills attributed its estimate-beating quarterly results to higher pricing and signaled it was ready to take on surging costs as inflation-hit Americans eat at home more to save money.
“As consumers become more concerned about the economic reality, the first thing they tend to do is eat more at home,” Chief Executive Officer Jeff Harmening said. The company, which makes Pillsbury dough, Betty Crocker cake mixes and Old El Paso sauces, also forecast fiscal 2023 adjusted per-share profit growth between flat and a 3% rise.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Stocks Making the Biggest Moves Premarket: General Mills, Carnival, Bed Bath & Beyond and MoreThese are the stocks posting the largest moves before the bell.
Lire la suite »
Tesla Lays Off Some Staff in Closing San Mateo, Calif., OfficeTesla is closing one of its Silicon Valley offices and laying off about 200 people there as part of the electric vehicle maker’s plans to trim its head count amid rising costs
Lire la suite »
How high a price will Canadians have to pay to tame inflation?On this week's episode of DowntoBusiness, we discuss inflation, interest rates, the chances of a recession and the housing market. — via financialpost inflation interestrates recession housingmarket
Lire la suite »
As inflation soars, Black Americans bear the brunt of rising grocery, gas and housing pricesResearchers say Black families will suffer the worst effects of rising inflation because they lag behind their White counterparts in income, wealth, financial savings and home ownership.
Lire la suite »
Home prices show signs of moderating in April: Case-ShillerThe slight deceleration of home prices in April comes as the Federal Reserve's efforts to tame scorching-hot inflation have pushed mortgage rates near 6%.
Lire la suite »
Marcel the Shell with Shoes On's Adventure Is Small but MightyThe fantastic and moving Marcel the Shell with Shoes On will make you feel stronger, taller, and better for having watched it. TaraDBennett's review:
Lire la suite »