Package-Food Stocks Sink After “Most Downbeat” Consumer Conference, General Mills Guidance Woes A fresh reminder that the K-shaped economy remains a very big problem emerged Tuesday at the Consumer Analyst Group of New York (CAGNY) conference, where top U.S. packaged food executives struck a sour tone about persistent consumer softening and unease over elevated food prices. General Mills CEO Jeff Harmening told the audience at CAGNY that cereal, snacks, and pet food are among the categories taking the biggest hit as consumers struggle with affordability woes. He said the pressure is being fueled by inflation, reductions in government food benefits,… — Continue at ZeroHedge News : Read More
