Wednesday, March 23, 2011
General Mills Warns of Further Price Hikes
March 23, 2011
"As we look forward to fiscal 2012, we currently anticipate that supply chain inflation will be higher than this year's estimated 4 to 5 percent rate," said Chairman and CEO Ken Powell in a statement before the company's conference call.
But during the call, Powell admitted that higher inflation is a real concern right now and not just in 2012.
"We believe (that) we are going to see generalized food inflation across all segments," he said,...