August 1, 2013 |
Kellogg Co., maker of breakfast brands such as Cocoa Krispies cereal and Eggo waffles, said its U.S. morning foods unit suffered a 3.3% sales decline in the second quarter. Overall North American sales were up 3.3% to $2.4 billion, while the American snacks division soared 8%. But growth in the cereal category “was disappointing,” Chief Executive John Bryant told analysts during a conference call Thursday. Brands such as Special K, Raisin Bran and Frosted Flakes performed well, but the adult cereal segment was weak, Bryant said.
May 22, 2012 |
General Mills Inc. will get rid of 850 jobs in an attempt to cut costs and boost productivity as items such as Cheerios cereal, Progresso soups and Hamburger Helper become costlier to make. The downsizing will affect 2.4% of the Minneapolis company's workforce of 35,000 people. Including employee severance, General Mills expects $109 million in pretax restructuring charges. Of that, $94 million will be recorded in the fourth quarter, which ends May 27. The company said the restructuring effort is meant to help “improve organizational effectiveness and focus on key growth strategies.” General Mills spokeswoman Kristie Foster said that the timing of the layoffs will vary, but that “most individual decisions will be communicated in the coming weeks.” About half of the cuts will come from the Minneapolis headquarters; across the company, administrative and support positions will be most affected.
May 8, 2012 |
Build-a-Bear Workshop was introducing a line of stuffed animals called smallfrys and wanted to reach moms through Facebook. One video used in the online promotion showed a woman pulling up to a fast-food window. Her young daughter requests "a smallfry. " When her mom suggests a fruit cup or celery sticks, the daughter says, "Mom, order me a curly-haired bunny in a purple sequined bathing suit. " The 45-second smallfrys spot came not from a traditional advertising agency but from Poptent Inc., a "crowdsourced" video production studio that has built a global community of 50,000 writers, directors, cinematographers and animators to create commercials for Build-a-Bear, American Airlines, Dell, Intel, Jaguar, General Mills and others.
March 22, 2012 |
The growing popularity of Greek yogurt is putting a damper on General Mills Inc.'s Yoplait brand, helping to push the company's third-quarter sales volume down in the U.S. Although General Mills' Peanut Butter Cheerios made a strong debut at the beginning of the year and its natural and organic foods sector enjoyed a double-digit increase in sales volume, domestic volume for the food giant fell in the fiscal quarter that ended Feb. 26. ...
March 21, 2012 |
The growing popularity of Greek yogurt is putting a damper on General Mills' Yoplait brand, pushing the company's third quarter volume sales down in the U.S. Though General Mills' Peanut Butter Cheerios made a strong debut at the beginning of the year and the “fast-growing” natural and organics foods sector enjoyed a double-digit increase in sales, domestic volume fell in the quarter ended Feb. 26. Yoplait sales slipped 3% as Greek yogurt brands...
March 18, 2011
General Mills Inc. has entered into exclusive negotiations to buy a majority stake in French yogurt company Yoplait, the company said Friday. Yoplait is the world's second-largest yogurt maker and is owned by French investment firm PAI partners and French cooperative dairy group Sodiaal. If successful, General Mills would acquire the roughly 50 percent stake held by PAI partners and work with Sodiaal, which is retaining its stake. General Mills did not disclose the value of the offer but the Wall Street Journal, citing a personal familiar with the situation, has placed it at $2.2 billion.