Why General Mills Inc. Stock Was Sliding Today

Shares of General Mills Inc. (NYSE: GIS) got crunched Wednesday morning after the Cheerios maker turned in another underwhelming earnings report. Sales in its yogurt division, which includes the Yoplait brand, were down by double digits, and cereal sales fell 7%. The stock was down 5.6% as of 12:21 p.m. EDT.

Image source: General Mills.

General Mills has been experimenting with new products, such as Oui by Yoplait, a French-style yogurt, in order to pump up sales, but those efforts have not been successful. Organic sales for fiscal Q1 (a statistic that strips out the effect of acquisitions) were down 5% in North America, and overall sales were off 3.5% in the period to $3.77 billion, coming up short of analysts' consensus estimate of $3.79 billion.

Source: Fool.com