General Mills posts smaller-than-expected drop in quarterly sales

(Reuters) – Cheerios maker General Mills posted a smaller-than-expected drop in quarterly sales on Wednesday, helped by benefits from its higher priced products including snacks and pet foods, to combat a consumer demand slowdown. The company’s quarterly sales fell 1% to $4.85 billion from a year ago. Analysts, on average, expected a drop of 2.11% to $4.80 billion, according to LSEG data.

(Reporting by Anuja Bharat Mistry in Bengaluru; Editing by Pooja Desai)