Consumers are resisting the attempts of General Mills and other food companies to pass long rising commodity costs. And that’s hurting sales and profits.
Target says it will buy back up to another $5 billion of its shares under a new stock repurchase program.
Cargill today reported earnings plunged even as revenue jumped in the three months ending Nov. 30th.
Sales of consumer electronics, music, movies and books were soft. But Target said grocery and health and beauty sales were strong.
General Mills’ Big G cereals division, no slouch at marketing, may have gotten a marketing windfall from music’s Big G, Lady Gaga. But then again, maybe not.