General Mills slashed its annual profit forecast on Wednesday as the Cheerios cereal maker ramped up investments in promotions to attract cost-conscious consumers, sending shares down about three per cent in early trading.
General Mills cuts profit outlook as promotions rise to win back consumers
Packaged food giant Conagra Brands’ quarterly results miss on weak demand
Packaged food giant Conagra reported first-quarter results that missed Wall Street estimates as budget-conscious consumers prioritized spending on lower-priced alternatives over the company's higher-priced pantry staples, sending its shares down about seven per cent.
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