General Mills lowers sales, profit prediction

Dive Brief:

• General Mills, maker of Cheerios, Pillsbury, and Yoplait yogurt, lowered its sales and profit outlook for the year.
• The company cited the struggling food industry in the U.S. for its decision. Following this, General Mills' stock fell 4.2% Friday to $51.15.
• Sales are forecast to rise at a low-single-digit rate instead of a mid-single-digit rate as previously predicted.

Dive Insight:

General Mills had already promised toslash costsand announcedjob cuts, but that doesn't make the blow to the industry any less strong. And General Mills isn't the only company facingsales troubles.