General Mills reduces profit forecast due to lower prices and increased promotions.

From Investing.com: 2024-12-18 08:41:59

General Mills reduced its profit forecast due to increased promotional spending to attract cost-conscious consumers, causing shares to drop 4%. The company expects adjusted profit to fall 1-3% annually. Despite this, strong demand for pantry staples led to an increase in sales for the Bugles corn chip snacks maker, surpassing analysts’ estimates.



Read more at Investing.com: General Mills cuts annual profit forecast on higher promotions, lower prices By Reuters