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.
CALIFORNIA | LOCAL
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.
September 30, 1997 |
General Mills said it plans to close cereal plants in Illinois and Canada and scale back production at a California operation to reduce costs and excess capacity. About 235 jobs will be eliminated when the company shuts down its two smallest plants--in southern Chicago and Etobicoke, Canada--and a cereal production line in Lodi, Calif.
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.
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.
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.
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.
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.
March 16, 2000 |
Bear Stearns Cos., the No. 6 securities firm, said net income rose 20% in its fiscal first quarter, as rising investment banking fees offset a slump in bond trading. The 77-year-old firm earned $278.2 million, or $1.89 a share, in the three months ending Feb. 25, up from $230.7 million, or $1.45 per share. The average forecast of five analysts surveyed by First Call Corp. was $1.52 a share. Investment banking revenue rose 31% to $308.2 million. . . .