date:Dec 19, 2013
tail operating profit fell 6 percent in the quarter ended November 24 as energy and dairy costs rose.
The period included the highest quarterly input cost inflation we expect to see this fiscal year, Chief Executive Ken Powell said in a statement.
Powell also said food and beverage industry sales in the United States and other developed markets slowed a bit during the quarter.
General Mills, which also makes Betty Crocker dessert mixes and Yoplait yoghurt, has been facing increasing competiti