General Mills International Unit Dragged by China, Brazil

General Mills logged a 10% organic sales decline in its international business during its fiscal 4Q, driven by difficult market conditions in Brazil and China, CFO Kofi Bruce says on a call with analysts. The consumer environment in Brazil is shaky and customers are reducing inventory levels significantly from a year ago, he says. And while China had a strong start to the year, there’s been “a real soaring downturn” in consumer sentiment in the most recent quarter that dented traffic for its Häagen-Dazs business and our premium dumpling business, the CFO says.

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