General Mills Inc. (NYSE:GIS) is one of them Stocks Jim Cramer rated with a fragile food market. Cramer explained why the company had to lower its earnings forecast, as he commented:
This is not the only example. When General Mills spoke at CAGNY, a key industry conference, they told a great story. When Mills reports next week, I bet pet food will shine. But there is a great deal of discount in grain, and the management does not seem to have changed this stock in a very subtle condition. Their review, they say, “results in remarkably good competition.” They have eight leading brands, each generating over a billion dollars in sales. But in the end, General Mills, a justifiably proud company, had to lower its earnings estimates, and that was the talk of the entire conference. why? “Weak consumer sentiment, high uncertainty, and significant volatility weighed on category growth and affected consumer purchasing patterns, resulting in slower-than-expected pace and higher cost of volume recovery.” It doesn’t look all that positive.
Stock market reports are printed on paper. Image by RDNE Stock Project in pixels
General Mills, Inc. (NYSE:GIS) provides branded foods, including cereals, snacks, meals, baking products, frozen goods, ice cream, and pet food.
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