General Mills has cut its sales guidance due to slower volume recovery, leading to a 4.2% stock drop, the largest since June 28. The company echoes concerns about weaker demand and complicating outlook due to value-seeking consumers. Additionally, price hikes on pet food have backfired, impacting consumer demand.
General Mills’ price hikes backfire as consumers say no more https://t.co/ixP8H8i9lt
$GIS pet food volume/price, 1Q20-present https://t.co/V8M51B2hbh
General Mills Says "Value-Seeking" Consumers Complicate Outlook https://t.co/pQ29AFzXp0
General Mills echoes FedEx with a warning about weaker demand https://t.co/PpxLAHZOmP
$GIS 🔸 GENERAL MILLS FALLS 4.2%, BIGGEST DROP SINCE JUNE 28
General Mills Cuts Sales Guidance Amid ‘Slower Volume Recovery’ https://t.co/p8bHz17Bhy