General Mills Inc reported its seventh straight quarterly sales decline on Tuesday, hurt by weak demand for its yogurt and baking products, as the company discounted less amid pricing competition in the United States.
The maker of Cheerios breakfast cereal said net sales fell 5.2 percent to $3.79 billion in the third quarter ended Feb. 26, falling short of analysts’ average estimate of $3.82 billion, according to Thomson Reuters I/B/E/S.
General Mills, like rivals ConAgra Brands Inc and Campbell Soup Co, has faced lackluster demand for its processed foods as consumer tastes shift toward fresh foods and items seen as healthier.
