General Mills sales fall for fifth straight quarter

Wed Sep 21, 2016 7:13am EDT
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Sept 21 (Reuters) - General Mills Inc reported a drop in quarterly net sales for the fifth straight quarter, hurt mainly by weak demand for its Yoplait yogurt and Progresso soup and the sale of its Green Giant frozen vegetable business.

The maker of Cheerios cereal said net earnings attributable to the company fell to $409 million, or 67 cents per share, in the first quarter ended Aug. 28 from $426.6 million, or 69 cents per share, a year earlier.

The company's net sales fell 7 percent to $3.91 billion. (Reporting by Gayathree Ganesan in Bengaluru; Editing by Saumyadeb Chakrabarty)