General Mills Inc.: The Minneapolis-based firm said...
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General Mills Inc.: The Minneapolis-based firm said fourth-quarter profit fell 35% to $35.6 million because of a $22.1-million loss from discontinued operations. Sales rose to $1.44 billion from $1.25 billion a year earlier. The maker of cereals and other packaged foods also said full-year net earnings rose 46% to $414.3 million. Sales rose to $5.62 billion from $4.98 billion in 1988. The 1989 earnings included a net gain of $169 million from the divestiture of operations--including Eddie Bauer, Talbots, York’s and Vroman’s--which was partially offset by a $70-million loss related to an accounting change.
Tables, Page 13.
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