Photograph by Scott Eells — Bloomberg via Getty Images
By Reuters
March 18, 2015

General Mills, the maker of Bisquick and Betty Crocker cake mixes, reported lower sales for the sixth straight quarter, hurt by a stronger dollar.

The company also said on Wednesday that it expects to complete the elimination of about 800 jobs, primarily in the United States, by the end of fiscal 2015.

General Mills (GIS) said in January that it would close plants in Midland, Ontario, Canada and New Albany, Indiana, cutting about 500 jobs.

The company’s sales outside the United States fell 7% in the third quarter ended Feb. 22.

Net income attributable to General Mills fell to $343.2 million, or 56 cents per share, from $410.6 million, or 64 cents per share, a year earlier.

Net sales declined 0.6% to $4.35 billion.

Several major U.S. food companies have reported disappointing results in recent months, and launched restructuring programs, as consumer tastes change.


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