Skip to main content
Updated:
Original:

General Mills just can't catch a break in the yogurt aisle

The new earnings report shows yogurt sales down again.

Reinventing yogurt to suit millennial tastes doesn't seem to be paying off for General Mills.

The Twin Cities food giant's latest earnings report, released Wednesday, shows declines in key areas, including net sales, net earnings, and operating profit.

On top of that, their shares fell 4.3 percent to $53 in premarket trading Wednesday morning, CNBC reports.

This is despite huge investments in the yogurt market, including the rollout of a new brand – "Oui," a fancy, French-style take on the snack – this past summer.

Though Oui did help offset some of the losses, "net sales were down double-digits" in the yogurt division, thanks to "continued declines for Yoplait Greek and Yoplait Light," General Mills said in a news release.

The disappointing earnings report is part of a pattern that has dogged the company for years now, thanks largely to shifting millennial tastes. Data shows they're moving away from classic breakfast staples in favor of more natural, organic options

But it's not just yogurt troubling General Mills. The company says net sales for cereal (which is perhaps what they're best known for, having created classics like Cheerios, Lucky Charms, and Cinnamon Toast Crunch) were also down this past quarter – by seven percent. 

Naturally, the company is looking to rebound in 2018, with ambitious plans to improve in the aforementioned areas, and to keep investing in brands that have been successful – like Annie's Homegrown and Lärabar, both popular organics.

Next Up

state patrol

3 killed in trio of crashes in Minnesota on Monday

The crashes happened in St. Louis, Winona and Carver counties.

2560px-Foo_Fighters_-_Southside_Festival_2019_4184_-_1

Foo Fighters reveal 2022 Twin Cities tour stop

The show will require proof of COVID vaccination or a negative test.

MSP airport

Police investigating after large fight caught on video at MSP Airport

People threw punches, broke chairs and tossed stanchions during the incident.

Hennepin County Government Center

Driver who killed innocent man, dog while drag racing is sentenced

The victim and his dog were struck while trying to cross the street.

SHSK MAPLE GROVE DT-03

Shake Shack's first drive-through to open in Maple Grove next week

The COVID-19 pandemic forced Shake Shack to become more accessible.

kimberly potter

Brooklyn Center increases communication ahead of Potter's trial

The former officer is charged in the death of Daunte Wright. Her trial begins Tuesday with jury selection.

Gophers

Reports: Gophers won't retain offensive coordinator Mike Sanford Jr.

Minnesota's passing attack hasn't been the same under Sanford Jr.

940 Margaret St, St Paul, MN 55106, United States - May 2019 (1)

4-year-old girl struck by hit-and-run driver in St. Paul

The girl was struck by the driver around 5 p.m. Monday.

Minneapolis police

Baby found safe inside car that was stolen in south Minneapolis

The incident happened near 32nd Street and Chicago Avenue around 7 p.m.

Anthony Edwards

Ant puts on a show to help Timberwolves beat Pacers

A third-quarter surge gave the Timberwolves their seventh win in their past eight games.

Mikko Koivu

Wild to retire Mikko Koivu's No. 9 jersey

Koivu will be the first player in franchise history to have his number retired.

Boebert-Omar - Flickr Gage Skidmore

Rep. Boebert refuses to apologize for Islamophobic comment toward Rep. Omar

A phone call Monday between the two lawmakers ended abruptly.

Related

Ready to say bonjour to French yogurt? General Mills hopes so

French is taking on Greek in a fight for yogurt supremacy.

General Mills is sexing up yogurt

A Frenchwoman with three lovers is the new face of Yoplait.

General Mills is sexing up yogurt

A Frenchwoman with three lovers is the new face of Yoplait.

General Mills to launch new yogurt

Golden Valley-based General Mills will start shipping more than three dozen new yogurt products next month as it tries to revitalize its U.S. yogurt business. Some of the new items include a 100-calorie Yoplait Greek yogurt and Yoplait Fruplait.

General Mills goes to federal court to defend Greek yogurt

Attorneys for General Mills Inc. pleaded their case in front of a federal judge on Friday over claims that its Yoplait Greek-style yogurt is neither Greek nor yogurt. The Golden Valley-based company asked U.S. District Judge Susan Nelson to throw out the consumer fraud lawsuit, which was filed by Minneapolis law firm Zimmerman Reed.