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.
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