Dairy Processor News / Top 100
Corporate earnings

Higher dairy inputs sting General Mills Q3 results; Yoplait Greek boosts sales through 9 months

Net sales for the third quarter of fiscal 2014 totaled $4.38 billion, down 1% from year-ago levels.

March 19, 2014

General Mills, Minneapolis, reported today that net sales for the third quarter of fiscal 2014 totaled $4.38 billion, down 1% from year-ago levels. Sales and operating profit for the 13 weeks ended Feb. 23, 2014, reflect lower volumes, consistent with generally weak food industry trends during this period; the impact of increased consumer marketing and merchandising investment in the company's U.S. yogurt business; and negative foreign currency effects, according to the company.

Third-quarter net sales in the company’s U.S. Retail segment declined 2% to $2.62 billion. Segment operating profit totaled $517 million, 11% below strong year-ago results. This primarily reflects the impact of higher dairy input costs and increased marketing and merchandising investment for the U.S. yogurt business, the company stated.

Chairman and Chief Executive Officer Ken Powell said, "This year's severe winter weather dampened sales performance across the food industry, and third-quarter results for our U.S. Retail and Convenience Stores and Foodservice segments reflect that disruption. International segment results were stronger, with constant-currency sales gains in every region including double-digit growth in both Asia-Pacific and Latin America."

For the nine months of the company’s fiscal year, net sales have increased 2% to $13.63 billion. Yoplait Greek yogurt was cited as one of the retail products contributing to year-to-date net sales growth. Others include Fiber One protein bars, Nature Valley oatmeal squares and Totino's frozen pizza and snacks.

International net sales growth included strong contributions from Haagen-Dazs ice cream and Wanchai Ferry frozen dim sum products in China, and Yoki popcorn varieties and Kit Facil dinner kits in Brazil.

Did you enjoy this article? Click here to subscribe to Dairy Foods Magazine. 
You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

Agropur, Natrel Division USA, St. Paul, Minn.

 At its Natrel Division plant in St. Paul, Minn, Agropur makes rBST-free white and flavored milk, heavy whipping cream, half n half, buttermilk, organic milk, nutritional drinks and shakes and sport drinks. Nondairy beverages (soy, rice, coconut, and almond) coffee creamers, broth and sauces. 

BehindtheScenes

This photo gallery contains additional, unpublished photos of dairy processing facilities featured in Dairy Foods magazine. To view more Behind the Scenes galleries go to our archives page!

9/23/14 2:00 pm EDT

Milk/Flavored Milk and Non-Dairy Beverages: Opportunities in the Beverage Segment

This free webinar will cover methods and ingredients available to increase protein levels, processing issues related to high-protein beverages, future ingredients and opportunities for protein fortification, adding value to milk and beverages, niche markets for high-protein milk and beverages and case studies of Core Power and Fairlife.

Frozen Desserts

What’s your preferred frozen dessert?
View Results Poll Archive

Dairy Foods Magazine

september cover

2014 September

Joseph Gallo Farms wins honors for its cheeses, sustainability practices; plus we look at what's happening with frozen desserts.

Table Of Contents Subscribe

THE DAIRY FOODS STORE

tharp-and-young-on-icecream.gif
Tharp & Young on Ice Cream: An Encyclopedic Guide to Ice Cream Science and Technology

An at once an all-inclusive guide to the meaning of hundreds of technical terms and ideas needed for ice cream manufacturing, as well as a practical introduction to the ingredients, freezing methods, flavoring, and packaging of ice cream, sherbet, sorbet, gelato, frozen yogurts, novelties and many other kinds of frozen desserts.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

Dairy Foods Buyers Guide

cover df july 2013Resource for buyers in the dairy processing industry to find information on the leading suppliers and manufacturers.

Find Ingredients, Equipment, Distribution, R&D and More.

Start Your Search Today.

STAY CONNECTED

Facebook logo 40px 2-12-13 Twitter logo 40px 2-12-13  YouTube logo 40px 2-12-13  LinkedIn logo 40px 2-12-13google plus