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General Mills posts smaller-than-expected drop in quarterly sales

Reuters

March 20 (Reuters) - Cheerios maker General Mills posted a smaller-than-expected drop in quarterly sales on Wednesday, backed by higher prices for its breakfast cereals, snack bars and pet food products that helped cushion a blow from slowing demand.

The Cheerios cereal maker's net sales dropped about 1% to $5.1 billion in the third quarter, compared with analysts' expectations of sales to drop about 3.1% to $4.97 billion, according to LSEG data. (Reporting by Granth Vanaik in Bengaluru; Editing by Shweta Agarwal)