General Mills experienced a 2.25% decline in dollar sales in the 52 weeks ended Nov. 5, primarily reflecting a decline of 2% in Honey Nut Cheerios.
Big G leaning into taste
With dollar sales of $2,594,786,304, Minneapolis-based General Mills, Inc. narrowly edges out Kellogg Co. as the nation’s largest R.-T.-E. cereal company. General Mills experienced a 2.25% decline in dollar sales in the 52 weeks ended Nov. 5, primarily reflecting a decline of 2% in the company’s top branded product, Honey Nut Cheerios, according to I.R.I.
To help recoup sales in the category General Mills has focused on enhancing taste, a trend that Donal L. Mulligan, executive vice-president and chief financial officer, said is “working well all over the world.”
In the 52 weeks ended Nov. 5, dollar sales of Lucky Charms totaled $280,968,640, up 13.8% from the same period a year ago.
“We’re leaning into this trend in our fiscal ‘18 plans,” Mr. Mulligan said during the Barclays Global Consumer Staples Conference held Sept. 7 in Boston. “In the U.S., our Lucky Charms plan focuses on what consumers love most about our brand — about this brand, the marshmallows.”
In the 52 weeks ended Nov. 5, dollar sales of Lucky Charms totaled $280,968,640, up 13.8% from the same period a year ago, according to I.R.I. No other brand in the top 20 increased more than 8.5% over the past year, according to I.R.I.
Dollar sales of Reese’s Puffs increased 8.4% in the 52 weeks ended Nov. 5.
The second largest mover in the category was Reese’s Puffs, a brand Mr. Mulligan said General Mills has promoted through media investment and by expanding availability in different pack formats like family size and dollar pouches. Dollar sales of Reese’s Puffs increased 8.4% in the 52 weeks ended Nov. 5, according to I.R.I.
