On Tuesday, General Mills upped its full-year sales projection, citing robust demand for the Cheerios company's cereals, snacks, and baking items as the pandemic-induced at-home cooking boom continued.
Consumers continued their lockdown-induced habits of cooking and eating more at home even after COVID-19 restrictions were lifted, boosting sales at packaged food manufacturers.
Last year, a surge in demand for pet treats helped General Mills claim a 29 % boost in revenue in its pet food sector as more individuals acquired cats and dogs to relieve the stress of the pandemic.
In the second quarter ended Nov. 28, sales at Pillsbury's core North American retail division increased by 2%.
Organic net sales are expected to climb between 4% and 5% in fiscal 2022, according to the business. Annual organic sales were expected to fall between 1% and 3%, according to the company's previous forecast.
In the reporting quarter, net sales increased to $5.02 billion, up from $4.72 billion a year earlier, exceeding expectations of $4.84 billion.