General Mills Profits Drop as Inflation Cuts into Sales Growth

General Mills saw profits slip 18% in the quarter as competition caught up after price increases.
Sales rose 4% to $4.9 billion but market share slipped in North America.
Company expects sales to grow 3-4% for the full year.
Consumers are increasingly cautious amid inflation according to the CEO.
Stock price has fallen over 21% since the start of the year.

startribune.com

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