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General Mills profit misses as U.S. yogurt sales sour
September 20, 2017 10:15 AM EDTBy Vibhuti Sharma and Gayathree Ganesan
(Reuters) - General Mills Inc (NYSE: GIS) reported a smaller-than-expected quarterly profit as yogurt and cereal sales declined in North America, sending the company's shares down 9 percent to their lowest levels in nearly two years.
The results underscore General Mills' struggles with consumers' shifting preference for protein-rich and thicker Greek yogurts.
To cater to the changing tastes, General Mills has spruced up its premium yogurt offerings through the launch of products such French yogurt Oui by... More
