Wednesday, March 24, 2010

Cereal gains in a recession

General Mills announced today third quarter financial results which included increased sales and profits. Of particular interest is the growth of their cereal division:

"Net sales for Big G cereals grew 6 percent in the quarter, led by strong introductory sales of new Chocolate Cheerios and Wheaties Fuel, and gains by several established brands such as Multigrain Cheerios and Lucky Charms."

Obviously something is working for General Mills and confirms that cereal seems to do well in a recession, a point we noted several months back.

(Source: General Mills)

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