General Mills’ plan to revive cereal sales includes a $13 box of the breakfast food.
CEO Jeff Harmening said “Our strategy to drive continued cereals growth is centered on launching compelling innovation that offers taste, convenience and health benefits, while investing in brand building,”at the annual Consumer Analyst Group of New York (CAGNY) investor conference .
Cereal isn’t the only segment that General Mills is trying to revive. The food company is also trying to boost sales of its yogurt and granola bars. Still, said General Mills.
General Mills’ stock, which has a market value of $32.4 billion, was up less than 1% in trading. The shares fell after the company said it had closed nearly half of its Haagen-Dazs ice-cream stores in China due to the COVID-19 outbreak.