General Mills' Results Hit by Later Thanksgiving and Higher Costs

Shares of packaged food company General Mills are falling on Wednesday after reporting lower-than-expected quarterly results. Sales were down 0.1% from the year-ago period due to the later Thanksgiving holiday not being included in the second quarter this year. Chief Executive Officer Ken Powell said results were also dragged down by higher ingredient costs and beverage industry sales. Looking ahead, General Mills expects foreign currency effects to pose a greater challenge than the company originally estimated.

Brittany joined TheStreet.com TV in November 2006 after completing a degree in Journalism and Media Studies at Rutgers College. Previously, Brittany interned at the local ABC affiliate in New York City WABC-TV 7 where she helped research and produce On Your Side, a popular consumer advocacy segment.