Article Date 23/09/2021

General Mills reports better-than-expected quarterly sales on pet food boom

Source Globe and Mail

Cheerios maker General Mills Inc. 

GIS-N +3.29%increase
reported better-than-expected quarterly sales on Wednesday, as strong growth in its pet foods business cushioned a slowdown in demand for its cooking sauces and baking products.

Net revenue at its pet foods unit jumped 25 per cent in the first quarter, benefiting from a rise in the adoption of cats and dogs by people looking to ease the stress of the pandemic.

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