In late June, General Mills forecast revenue growth in the mid-single digits. Despite price increases, General Mills said investors should expect its profit this year -- and particularly in the current quarter -- to be pressured by higher costs.
A roster of companies from
(SBUX - Get Report)
(TSN - Get Report)
(MCD - Get Report)
have reported that higher costs were eating into their bottom lines; each has instituted price increases to offset those costs.
, Starbucks announced a 17% price hike in bagged coffee
(SJM - Get Report)
move a day earlier when it raised coffee prices by 11%, its fourth price hike this year.
-- Written by Miriam Marcus Reimer in New York.
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