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News Breaks | | | | October 28, 2012 | | 18:08 EDT |  | GIS | General Mills earnings could suffer from lower prices, marketing, Barron's says
A price war could ensue in the Greek yogurt market as new competitors enter a fast-growing market and existing suppliers ramp up production. General Mills owns 51% of a Yoplait venture with France's Sodiaal. By itself, a price war in a single category wouldn't be a disaster for a company with more than $16B in annual revenue, but Barron's notes that General Mills also is facing reinvigorated rivals in other key lines --like cereal and soup. Lower prices and possibly stepped-up marketing costs could pressure earnings for General Mills. Michael Katz of Glenrock Asset Management, is short the stock, and thinks is worth roughly $32 a share -- about 20% below last week's $39. Reference Link | |
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