General Mills to Cut Yogurt Prices
Shoppers headed to the grocery store may get a pleasant surprise. Golden Valley-based General Mills plans to drop the price on yogurt.
CEO Ken Powell told Bloomberg News that the change comes because consumers are being "very cautious" when shopping and that they don't believe economic conditions are getting much better.
Powell said cutting prices on some Yoplait yogurts will put General Mills in the same value zone as its competitors.
In June, General Mills forecast its profits in the latest fiscal year would be hurt by higher costs in marketing and investing in its US yogurt business.