General Mills hurt by slow response to yogurt trends

"We know we have a good deal of work to do to turn around our yogurt business,” remarked General Mills president and COO Jeff Harmening in a post-earnings presentation. The CPG giant admits to being slow to respond to consumer yogurt trends, having just recently added a Greek-style variety to its mix. Yesterday's quarterly report revealed a 17 percent sales drop for the company's yogurt segment, contributing to an overall 9 percent retail sales decline.