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General Mills Anticipates Higher Demand Beyond Pandemic

Updated Dec. 17, 2020 11:42 am ET
General Mills Inc. on Thursday said the initial surge in sales at the start of the pandemic is moderating but expects to benefit from consumers choosing to eat more at home for years as they continue to grapple with financial strain or work remotely.
“What we have learned from past recessions is that one of the first ways consumers look to save money is by eating at home more than at restaurants,” Chief Executive Jeff Harmening said in an interview.
Sales at General Mills’ North America retail division, which includes U.S. groceries, rose 9% in the latest quarter from a year ago, after jumping 14% in the quarter that ended in August. Campbell Soup Co. last week reported a similar trend, with sales growth receding. ....

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