China has announced tariffs on approximately $60bn worth of US goods as a retaliation after the Trump administration slapped 25% tariffs on $200bn Chinese products earlier this year.
The Minneapolis, US-headquartered food giant is counting on a swathe of new products – ranging from cereals to power bars – to boost growth in the coming year.
The Betty Crocker maker reported a better-than-expected fourth-quarter profit, but also announced it was axing 625 jobs to reduce costs amid slowing sales of its bakery and yogurt products.
Scottish health chiefs are set to ban cereals like Coco Pops, Sugar Puffs and Cheerios from school breakfasts in a countrywide bid to cut childhood obesity.
Kellogg Company, Post, PepsiCo, Unilever, General Mills and ConAgra Foods are some of the suppliers to have joined with Walmart in its ‘Fight Hunger. Spark Change’ program in the US and Puerto Rico.
General Mills reported a 6% drop in third-quarter operating profit, well below its expectations, said chairman and CEO Jeff Harmening, adding cost pressures will influence its full-year outlook.
General Mills has signed an agreement with Gunsmoke Farms to convert more than 30,000 acres of conventional farmland into certified organic acreage by 2020, in order to capitalize on growing consumer demand for natural and organic foods.
Jeff Harmening, General Mills’ CEO, told attendants at the Consumer Analyst Group of New York (CAGNY) the company could see more acquisitions as part of its ‘reshape the portfolio for growth’ strategy.
