General Mills posted an 11-percent increase in net sales to $2.65 billion for third-quarter fiscal 2003. Mills credits lower promotional spending, pricing, and a favorable sales mix.
Volume sales rose 7 percent for the U.S. and 5 percent worldwide, thanks in part to the integration of Pillsbury brands. General Mills’ October 2001 purchase of Pillsbury was stalled for several months, but marketing has since rebounded for the merged portfolio (October 2002 PROMO).
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