February 4, 2004 |
Cereal maker General Mills Inc. said Tuesday that it had received notification from U.S. regulators that it may face charges in connection with its sales practices and related accounting. The Securities and Exchange Commission's Wells notice relates to an inquiry that General Mills disclosed in October, the Minneapolis-based company said. Chief Executive Steve Sanger and Chief Financial Officer James Lawrence are included in the notice and also could face charges.
April 17, 1999 |
General Mills Inc., which makes Cheerios, Wheaties and Lucky Charms, confirmed it is raising cereal prices an average 2.5%. The increase will vary among the company's brands but probably will mean grocers will boost the retail price of Big G cereals by a nickel to a dime a box, analysts said.
September 17, 1998 |
General Mills Inc. said fiscal first-quarter earnings rose 8% as its Cheerios and Chex cereals eked out sales gains even as most U.S. cereal companies struggled. Net income rose to $145 million, or 92 cents a diluted share, from $134.3 million, or 82 cents, a year earlier. Earnings beat the 90-cent average estimate of analysts surveyed by First Call Corp.
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April 17, 2003 |
Charles H. Bell, 95, the son of General Mills founder James Ford Bell and a former company president, died Saturday in Santa Barbara after weeks of failing health. Along with his father and grandfather, Charles Bell played a key role in shaping the early flour-milling days of General Mills, the Golden Valley, Minn.-based food maker. Born in Minneapolis, Bell was educated at Yale University. He joined General Mills in 1930 at age 22.
January 14, 2000 |
DuPont Co., which has been expanding beyond its traditional chemical businesses into agriculture and other industries, and cereal maker General Mills Inc. have formed a joint venture to develop and market soy foods. Terms were not disclosed. Under the agreement, DuPont's Protein Technologies International unit will develop soy foods to supply Minneapolis-based General Mills, which makes products such as Cheerios cereal and Betty Crocker dessert mixes.
June 28, 2000
General Mills Inc., the No. 2 U.S. cereal maker and the nation's biggest yogurt company, said fiscal fourth-quarter profit rose 3.9% and forecast a gain of at least 10% in per-share earnings next year. Net income for the maker of Cheerios cereal and Yoplait yogurt rose to $108.9 million, or 37 cents a share, from $104.8 million, or 33 cents, a year earlier. Analysts polled by First Call/Thomson Financial had expected profit of 36 cents. Sales in the quarter ended May 28 increased 5.6% to $1.
September 20, 2007 |
Charging more for Cheerios, Lucky Charms and Yoplait yogurt helped General Mills Inc. report an 8% increase in its fiscal first-quarter profit Wednesday. The food maker said more price increases could be on the way if ingredient and fuel prices kept rising. "We are actively monitoring the need to pass along additional input cost pressures as they arise," Chairman and Chief Executive Steve Sanger said. Golden Valley, Minn.
March 19, 2009 |
Higher costs outweighed increased sales as General Mills Inc. reported a worse-than-expected 33% drop in profit for its fiscal third quarter. The company's shares fell more than 11% to $47.63, their lowest point in more than three years. For the period ended Feb. 22, the Golden Valley, Minn., company earned $288.9 million, or 85 cents a share, down from $430.1 million, or $1.23, a year ago. Revenue rose 4% to $3.54 billion. Excluding certain charges, earnings were 79 cents a share, compared with 87 cents in the previous year.
August 15, 1996 |
Trying to escape a cereal price crunch, Ralcorp Holdings Inc. said Wednesday that it will sell its Chex line to Cheerios and Wheaties maker General Mills Inc. for $570 million. The deal edges General Mills closer to industry leader Kellogg Co., as the top competitors in the $8-billion cereal market continue the price war that signaled Ralcorp's exit. In addition to Chex, General Mills would get such brands as Cookie Crisp and Almond Delight ready-to-eat cereal brands and Chex Mix snacks.
May 19, 1988 |
Talbots, the preppy clothier and trend setter for the suburban set, said sayonara on Wednesday to its American owner, who sold the women's clothing chain to Japan's fourth-largest supermarket operator for $325 million cash. Talbots was sold by General Mills, the food conglomerate, which also announced that it has sold its Eddie Bauer chain that specializes in outdoor wear and gear. It was sold to the Spiegel mail-order house for $260 million.