Inflation is proving stickier than a Pillsbury cinnamon roll for General Mills.
Still, the Minnesota-based food maker has again increased its short-term financial outlook and beat analyst expectations for its most recent quarter, even as profits dropped 16%.
"The consumer seems to be reasonably robust, and at the same time they're eating at home more than they were pre-pandemic," CEO Jeff Harmening told analysts Thursday morning. "We plan to sustain this momentum by investing further in brand building, innovation and capabilities that will drive future growth."
