- General Mills (NYSE:GIS) reported cereal demand fell off once again in FQ2.
- The decline is in spite of efforts to introduce more on-trend brands (protein, gluten-free, low-calorie).
- The company offset the cereal slump to a degree with gains in yogurt.
- Yogurt sales grew in both the U.S. Retail and Convenience Store channels.
- The shift by consumers from cereal to yogurt has also negatively impacted Kellogg (NYSE:K) and Post Holdings (NYSE:POST) - while benefiting Danone (OTCQX:DANOY) and Mueller-PepsiCo (NYSE:PEP).
- Previously: General Mills earnings, highlights