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General Mills Raising Prices as Costs Rise

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 Starbucks (SBUX - Get Report) and Kraft Foods (KFT) to Tyson (TSN - Get Report) and McDonald's (MCD - Get Report) have reported that higher costs were eating into their bottom lines; each has instituted price increases to offset those costs.

In May , Starbucks announced a 17% price hike in bagged coffee, echoing J.M. Smucker's (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.



>To contact the writer of this article, click here: Miriam Reimer.

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Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.
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SYM TRADE IT LAST %CHG
GIS $56.38 0.00%
MCD $98.74 0.00%
SBUX $51.84 0.00%
SJM $116.31 0.00%
TSN $38.65 0.00%

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