Tuesday, September 14, 2010

General Mills upbeat

Around the same time that Wheaties FUEL celebrated its first anniversary General Mills announced its first quarter financial results and gave insights into their view of the future as far as cereal is concerned. According to FoodBusinessNews.net CEO Kendall Powell claims to "be very bullish about the cereal category", convinced that consumers see cereal as both a good value and nutritious. And, despite the fact that 90% of U.S. household buy cereal, he believes there is still room for growth.

Probably of great interest were a couple of other revelations. Chocolate Cheerios appears to be a resounding success, and one of their most successful product launches in years. Regarding Wheaties FUEL the official line is that "It's doing well and it's helping to increase sales for original Wheaties, too" [the latter I also recently noticed]. Apparently they will be delivering 2.5 million samples of it this week to tie in with the new NFL season.

Interesting insights.

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