Food maker General Mills Inc reported a bigger-than-expected 5.2 percent fall in quarterly sales on Tuesday, hurt by weak sales of yogurt and baking products in the United States, its biggest market.
Continue Reading Below
The maker of Cheerios breakfast cereal said net sales slipped to $3.79 billion in the third quarter ended Feb. 26, from $4 billion a year earlier, marking the seventh straight quarterly decline.
Analysts on average had expected revenue of about $3.8 billion, according to Thomson Reuters I/B/E/S.
Net income attributable to General Mills fell to $357.8 million or 61 cents per share, from $361.7 million or 59 cents per share, a year earlier.
(Reporting by Richa Naidu and Sruthi Ramakrishnan in Bengaluru; Editing by Sai Sachin Ravikumar)