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☆ Red Lobster brought seafood to the masses. Now it’s on the verge of bankruptcy
▼ + stars: | 2024-05-03 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +11 min

While it was a delicious deal for customers, it was terrible for the company: Red Lobster lost $3.3 million in seven weeks. The deal was once again too popular, and Red Lobster was unprepared for its customers’ insatiable lust for discounted shellfish. Red Lobster is now reportedly considering filing for bankruptcy protection to restructure its debt and shed some of its 650 US locations. Red Lobster stallsBut Red Lobster fell behind its sister brand Olive Garden under Darden. In 2021 and 2022, Red Lobster brought on a new CEO, chief marketing officer, chief financial officer and chief information officer.

Persons: Lobster, “, ”, John Gordon, Michael Nagle, Alex Susskind, General Mills, Bill Darden, Charley Woodsby, Darden, ” Woodsby, Jonathan Maze, Betty Crocker, Red, Glen Martin, Mills, ” Joe Lee, Olive, Red Lobster’s, “ Darden, ” Les Foreman, Justin Sullivan, they’ve, Les Foreman, Thiraphong Chansiri, ” “, ” Chansiri Organizations: New, New York CNN, Lobster, Thai Union, Bloomberg, Getty, Red Lobster, CNN, Cornell University, Baby Boomers, General, Howard, Restaurant Business, Darden, Denver Post, Harvard Business School, Longhorn, Darden Restaurants, Gate, ‘, Thai, “, ” Thai Locations: New York, United States, Bangkok, Thai, underinvestment, Lakeland , Florida, Orlando, America, Olive, Sale, Thai Union, Thailand

☆ I'm a professional baker. I tried 3 boxed white-cake mixes to see which is the best.
▼ + stars: | 2024-02-21 | by ( Alana Al-Hatlani | ) www.businessinsider.com time to read: +1 min

I compared Pillsbury's Moist Supreme, Duncan Hines' Perfectly Moist, and Betty Crocker's Super Moist white cake mixes. It's great to make a cake from scratch, but a boxed mix is perfect in a pinch. Alana Al-HatlaniWhite cake is the most versatile of cake flavors, ready to be filled or iced with any flavor. It can also easily be bland, making the mix used crucial to the success of the final cake. All of the cake layers were baked on the center rack of my oven and mixed according to the directions on each box.

Persons: Duncan Hines, Betty Crocker's, Alana Al

☆ I'm a professional baker. I made 5 brands of boxed brownie mix to see which is the best.
▼ + stars: | 2024-01-30 | by ( Alana Al-Hatlani | ) www.businessinsider.com time to read: +1 min

For fudgy, chocolaty, and moist brownies, Pillsbury is the way to go. The brownies from Pillsbury and Ghirardelli had a rich, chocolaty flavor but weren't overly sweet. Alana Al-HatlaniWhen I'm making brownies, I aim for a result that's fudgy, rather than cakey, with a noticeable chocolate flavor that isn't overly sweet or dry. They baked off evenly, weren't overly sweet, and had a shiny crackled crust and tender edges that didn't dry out. Ghirardelli perhaps had a better chocolate flavor than Pillsbury but had dry edges.

Persons: Pillsbury, Ghirardelli, Alana Al, Duncan Hines, Betty Crocker, Betty Crocker's Organizations: Pillsbury, Kodiak

☆ I'm a professional baker. I tried 3 boxed chocolate cake mixes to see which is the best.
▼ + stars: | 2024-01-05 | by ( Alana Al-Hatlani | ) www.businessinsider.com time to read: +1 min

As a professional baker, I don't often use boxed mixes, but I appreciate how easily they bring a cake together. I tried Duncan Hines, Pillsbury, and Betty Crocker cake mixes. Alana Al-HatlaniI think premade mixes are great for beginners gaining confidence around the kitchen and also for last-minute cake "emergencies." To find the best grocery-store cake mix, I made the Pillsbury's Moist Supreme, Duncan Hines' Perfectly Moist, and Betty Crocker's Super Moist versions of devil's food cake. The cake layers were baked on the center rack of my oven and mixed according to the directions on each box.

Persons: Duncan Hines, Pillsbury, Betty Crocker, Alana Al, Betty Crocker's

☆ Jeff Bezos is ripped now. Here's how the Amazon founder went from scrawny to brawny — even though he still cheats with pancakes
▼ + stars: | 2023-07-27 | by ( Jyoti Mann | Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Amazon founder Jeff Bezos has had a "glo-up" in recent years since stepping back from the company. He went from eating a tin of biscuits for breakfast every morning to putting in hours in the gym. Jeff Bezos was a pretty scrawny guy when he founded Amazon in 1994. She said that Bezos "stole" her personal trainer, Wes Okerson, who has also trained celebrities like Tom Cruise and Gerard Butler. Beyond his personal diet and fitness regimen Bezos has reportedly also invested in anti-aging research company Altos Labs.

Persons: Jeff Bezos, Lauren Sanchez, Sanchez, Wes Okerson, Tom Cruise, Gerard Butler, Jeff, Bezos, Bezos's, MacKenzie Scott, Betty Crocker Organizations: Amazon, Wall Street, Pillsbury, Altos Labs

☆ A Lesson in Tender, Tangy Lemon Bars
▼ + stars: | 2023-07-24 | by ( Genevieve Ko | More About Genevieve Ko | ) www.nytimes.com time to read: +1 min

I had no idea what lemon bars were. My classmates said that my new school would turn my Chinese American self into a banana or a Twinkie — yellow on the outside, white within. Because the lemon bars didn’t taste like a loss of identity, but an expansion of it. But from-scratch treats from midcentury Americana were foreign to me — and lemon bars tasted especially mysterious, at once sour and sweet, rich and sharp. The next year, Betty Crocker’s “Cooky Book” included a recipe for Lemon Squares, which extended its popularity beyond local community cookbooks.

Persons: Eleanore Mickelson, Betty Crocker’s “ Organizations: Chicago Tribune Locations: East Asia, Mexico, Eden, Los Angeles

☆ General Mills forecasts dour profit as price hikes impact demand
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +1 min

June 28 (Reuters) - General Mills' (GIS.N) full-year profit forecast on Wednesday came in largely below analysts' estimates as the U.S. packaged food maker battles with slow demand for its ready-to-eat cereals and meal kits due to higher prices. Shares of the Cheerios cereal maker fell 4% in premarket trading after General Mills reported a 6 point fall in sales volumes in the fourth quarter. Price hikes to offset inflation in labor, raw materials and transportation has aided top-line growth at U.S. packaged food makers. Increasing caution on part of consumers also impacted their at-home versus away-from-home food choices, and the brands they choose, General Mills said. General Mills forecast fiscal 2024 organic net sales to rise 3% to 4%, while it reported growth of 5% in fiscal 2023.

Persons: Mills, Betty Crocker, Refinitiv, Savyata Mishra, Shinjini Organizations: Pillsbury, Thomson Locations: North America, Bengaluru

☆ Stocks making the biggest moves before the bell: General Mills, Nvidia, AMD and more
▼ + stars: | 2023-06-28 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in premarket trading. General Mills — Shares dropped 3.9% following mixed fiscal fourth-quarter results. The Betty Crocker and Cheerios owner beat Wall Street expectations on earnings, reporting $1.12 in adjusted earnings per share against a Refinitiv consensus estimate of $1.07 per share. The Wall Street bank said Pinterest is making the strategic move to outsource monetization to third-parties to overcome its attribution and scale challenges, including a partnership with Amazon. ZoomInfo — Shares of the software company added 3.9% in premarket trading after Needham initiated coverage of ZoomInfo with a buy rating.

Persons: Mills, Betty Crocker, Biden, Wells, Pinterest, Goldman Sachs, Morgan Stanley, Needham, ZoomInfo, Yun Li, Jesse Pound Organizations: Safeway, Nvidia, Street Journal, iShares Semiconductor, Amazon Locations: San Anselmo , California, China

☆ Stocks making the biggest moves midday: Pinterest, Carnival, General Mills, Netflix and more
▼ + stars: | 2023-06-28 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Pinterest — Shares climbed more than 5% in midday trading. The Wall Street firm said it anticipated more subscribers and the potential discontinuation of its lowest-priced, ad-free plan, which is being tested in Canada. AeroVironment also said it anticipates full-year revenue of $630 million to $660 million, beating the $600 million expected by analysts. ZoomInfo also received positive coverage from Morgan Stanley, which reiterated an overweight rating on the stock. Snowflake — Shares added 5.5% after the data cloud company reiterated its full-year guidance during an investor day Tuesday.

Persons: Wells, Mills, Betty Crocker, Oppenheimer, AeroVironment, ZoomInfo, Needham, Morgan Stanley, Goldman Sachs, Arcline, BancShares, —, Alex Harring, Brian Evans, Jesse Pound, Michael Bloom Organizations: New York Stock Exchange, Norwegian Cruise, Royal, Refinitiv, Nvidia, Journal, Netflix, Joby, Reuters, KKR . First Locations: Norwegian, Royal Caribbean, China, Canada, Refinitiv, North Carolina

☆ Kroger is texting and emailing former staff to try to make them 'boomerang' back after leaving, report says
▼ + stars: | 2023-02-19 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

Kroger is texting and emailing ex-workers to encourage their return amid a wider labor shortage. Associated Wholesale Grocers is messaging former workers on Facebook and LinkedIn to get them back. Manufacturer General Mills has a pilot program to bring retirees back to fill staffing gaps. Associated Wholesale Grocers is messaging ex-workers on Facebook and LinkedIn and the average number of rehires has increased four-fold. Kroger, General Mills and Associated Wholesale Grocers didn't immediately respond to requests for comment from Insider made outside normal working hours.

☆ Meet the typical Walmart shopper, a 59-year-old white suburban woman earning $80,000 a year
▼ + stars: | 2023-01-30 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Walmart's average customer is a woman who is 59.5 years old, white, married, and earning $80,000 per year. Because of the retail giant's scale, the average Walmart shopper has a lot in common with the average US consumer, according to data from the analytics firm Numerator prepared for Insider. Roughly 95% of the shoppers in Numerator's survey visited Walmart two or more times in the past year. Numerator found that Walmart's typical shopper in the US is a white woman between 55 and 64 years old, who is married and living in the suburbs of the Southeast. Read more of our typical shopper profiles:

☆ General Mills Raises Outlook on Higher Snack Sales
▼ + stars: | 2022-12-20 | by ( Dean Seal | ) www.wsj.com time to read: 1 min

General Mills said it now expects stronger organic sales growth this year and higher adjusted earnings. General Mills Inc. raised its outlook for 2023 after the consumer foods company increased prices and reported a boost in sales for its snacks and baking products. The Minneapolis-based maker of Cheerios and Betty Crocker cake mix said sales rose 4% to $5.2 billion in its fiscal second quarter, driven by higher prices and positive shifts in the mix of products it sold. Volumes, meanwhile, fell 12%, with major drop-offs in its international and pet businesses.

☆ Florida woman sues Kraft for $5M, saying Velveeta shells & cheese takes longer to prepare than packaging claims
▼ + stars: | 2022-11-29 | by ( Joseph Lamour | ) www.nbcnews.com time to read: +4 min

On Nov. 18, Florida resident Amanda Ramirez sued the Kraft Heinz Company for at least $5 million over what she claims is deceptive and fraudulent packaging. Ramirez says that since Kraft’s Velveeta Shells & Cheese Microwavable Shell Pasta takes longer than 3-and-a-half minutes to prepare even though its packing states “ready in 3½ minutes,” that constitutes fraud. What the plaintiff focuses on is the fifth instruction, “cheese sauce will thicken upon standing” which they say constitutes a longer “ready” time than the packaging claims. “Consumers seeing ‘ready in 3½ minutes’ will believe it represents the total amount of time it takes to prepare the Product,” the suit reads. “However, the directions outlined above show that 3-and-a-half minutes is just the length of time to complete one of several steps.

☆ General Mills Posts Higher Sales as Costs Escalate Further
▼ + stars: | 2022-09-21 | by ( Sabela Ojea | ) www.wsj.com time to read: 1 min

General Mills higher sales in its fiscal first-quarter as more consumers eat at home in response to higher prices, including from the food company, as costs escalate further. The maker of Cheerios cereal and Betty Crocker cake mix Wednesday said it now sees costs rising as much as 15% for its current fiscal year, higher than its forecast from June, due to increases for raw materials, labor, freight and fuel.

☆ General Mills raises full-year forecast on higher prices
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterPackages of Cheerios, a brand owned by General Mills, are seen in a store in Manhattan, New York, U.S., November 12, 2021. REUTERS/Andrew KellySept 21 (Reuters) - Cheerios cereal maker General Mills Inc (GIS.N) raised its full-year forecast after beating quarterly profit estimates on Wednesday, banking on higher prices and resilient demand for its breakfast cereals, snack bars and pet food. The company now expects organic net sales to rise between 6% and 7% in fiscal 2023. Net earnings attributable to General Mills rose to $820 million, or $1.35 per share, in the three months ended August 28, from $627 million, or $1.02 per share, a year earlier. It also reported net sales of $4.72 billion in the first quarter, in line with analyst expectations, according to Refinitiv data.

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