Higher Prices Couldn't Keep General Mills' Pandemic Boost Alive

The cereal boom is over. General Mills (NYSE: GIS) this past week announced that sales growth turned negative in early 2021 after soaring over the previous year. And while prices jumped at a double-digit rate in some of its sales channels, that boost wasn't enough to offset slumping volume.

Executives sounded confident that the business is in a stronger position than it was a year ago. But General Mills might still struggle to avoid reduced sales in the fiscal year that just started.

Let's take a closer look.

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Source Fool.com