General Mills lifts sales, profit forecasts on price hikes …

General Mills Inc (GIS.N) raised its annual organic sales and profit forecasts on Tuesday, betting on price hikes and strong demand for its snack bars and breakfast cereals as well as a recovery in its high-margin pet food business. Shares rose about 4% as Chief Executive Jeffrey Harmening said at the Consumer Analyst Group of New York conference that despite consumers feeling the pinch, there has not been any push-back on the price hikes in the last few quarters. General Mills had in December warned of another round of price increases at the start of 2023, especially for its pet care products.