“We were off our game,” an exec admits.
General Mills isn’t winning in the yogurt aisle. But the Big Food giant now is promising huge changes to get competitive again.
During an investor day presentation held in New York Wednesday, General Mills’ GIS 0.19% top executives said the company has too many “regular” and “light” yogurts and would focus on tapping the market for Greek yogurt, organic and yogurt beverages. The yogurt category is worth $84 billion globally and growing at a faster clip than other key areas General Mills competes in, like cereal and traditional snacks.
“Right now our product portfolio is not aligned with the trends,” said President and Chief Operating Officer Jeff Harmening.
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