August 30, 2008 |
Joe Paterno is 81, and after 59 years as an assistant coach or the head coach at Penn State, he's as much a part of the football scene at Beaver Stadium as the cement. Paterno starts the last season of his contract today when Penn State plays host to Coastal Carolina, which ended 2007 as the 53rd-ranked team in Division I-AA. "I think it's a good opener for us," Paterno said. He's probably right about that, but it's a long season and Paterno has something to shoot for besides a contract extension.
June 26, 2008 |
General Mills Inc. said accelerating costs for ingredients and fuel may spur additional price increases after it started charging more for cereal and soup in the last few weeks. The Minneapolis company projected that commodity and energy expenses would rise by $500 million in the year through May 2009, after increasing $345 million last year. The maker of Green Giant frozen vegetables has raised prices of Yoplait yogurt, snacks and other products this year as costs for corn, cocoa and truck fuel have climbed.
December 20, 2007 |
Food maker General Mills Inc. cooked up slightly higher profit in its second quarter, with stronger sales offsetting rising costs for ingredients and other expenses. The company that makes Cheerios cereal, Yoplait yogurt and Progresso soup also affirmed its earnings guidance for the full year, saying it has plans in place to counter what it expects will be continued increases in grain, dairy and energy costs. Net income in the quarter ended Nov. 25 was $390.5 million, or $1.
September 25, 2007 |
General Mills Inc. Chief Executive Steve Sanger is stepping down effective immediately, the nation's second-largest cereal maker said. The company promoted President and Chief Operating Officer Ken Powell to CEO. Sanger will remain as chairman through May, the company said. Spokeswoman Kirstie Foster said it was Sanger's decision to step down as CEO.
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.
June 6, 2007 |
General Mills Inc. said Tuesday that it would raise cereal prices to match increases by competitors, but investors sent its shares down 3.4%, and one analyst downgraded the stock. General Mills spokesman Tom Forsythe said customers should actually see lower prices per box, but the boxes would be smaller, so the effect was a price increase of a few percent. The new prices go into effect June 25. The maker of Wheaties and Lucky Charms has been looking for a way to boost profit on its cereals.
March 23, 2007 |
General Mills Inc. said its third-quarter profit rose more than analysts estimated as demand for Progresso soups and Yoplait yogurt helped boost U.S. sales. The food company increased its full-year earnings forecast after third-quarter net income climbed 8.9% to $268 million, or 74 cents a share, from $246 million, or 68 cents, a year earlier. Sales in the three months through Feb. 25 advanced 6.2% to $3.05 billion, the Minneapolis-based company said.
January 3, 2007 |
General Mills Inc. will no longer offer reduced-sugar Trix and Cocoa Puffs because of slow sales and will replace them with three new cereals branded with Walt Disney Co. characters. General Mills will stop selling Trix and Cocoa Puffs with 75% less sugar in U.S. supermarkets in March, said Thomas Forsythe, a spokesman for the Minneapolis-based company. It will offer cereals featuring Disney's Mickey Mouse, Princess line and Little Einsteins.
December 22, 2006 |
Food makers General Mills and ConAgra reported solid second quarters and raised their guidance Thursday, and Wall Street greeted them like comfort food on a cold winter day. Shares of both companies gained nearly 2% in a falling stock market. ConAgra Foods Inc. had the most sizzle. Quarterly profit jumped 44% as the maker of the Healthy Choice and Chef Boyardee brands sold off a meats business sooner than expected, cut costs and got better results from its advertising. General Mills Inc.
September 22, 2006 |
Cereal maker General Mills Inc. said its fiscal first-quarter profit rose 6%, exceeding analysts' estimates, on higher sales of Yoplait yogurt and new cereals. The shares rose the most in a year to a record high. Net income increased to $267 million, or 74 cents a share, from $252 million, or 64 cents, a year earlier, Minneapolis-based General Mills said. Revenue in the quarter ended Aug. 27 rose 6.8% to $2.86 billion.