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General Mills has unveiled plans to boost TV advertising behind its cereal brands, as money-conscious consumers hunker down to a morning bowl of Chex or Cheerios in a down economy.
The packaged goods giant today (March 18) reported a 33 percent drop in third-quarter fiscal 2009 profits due to higher commodity costs. Profits fell to $288.9 million from $430.1 million for the same period last year.
Consumers eating more meals at home, however, fueled strong growth behind nearly all of General Mills’ brands, including cereals, baking goods, frozen snacks and meals, according to the company.
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