0843 ET - General Mills reports sales in its North American pet food business were up 5% in F2Q at $596 million thanks to higher volumes, which offset negative impacts from pricing and product mix. The performance outpaced all-channel retail sales as retailers rebuilt their inventory following significant reductions in recent years. Sales of dry pet food were up in the high-single digit percentage range, while wet pet food was up in the mid-single digits and pet treats logged a low-single digit gain. The segment's profit surged 36% year-over-year thanks to the higher volumes, lower supply chain expenses and the company's recent cost-cutting measures. (dean.seal@wsj.com)
(END) Dow Jones Newswires
December 18, 2024 08:43 ET (13:43 GMT)
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