Cheerios cereal maker General Mills Inc (NYSE:GIS) saw shares seep a little lower in New York as sales dropped again in its latest quarter.
The firm reported net earnings of $409 million, or $0.67 a share, for the first quarter to end August, which as 3% lower than the $0.69 per share posted in the same three months in 2015.
The drop was mainly due to weak sales of its Yoplait yogurt and Progresso soup and because of the disposal of its less- profitable Green Giant frozen vegetable business.
The firm has been cutting jobs and making sales amid falling sales as customer turn away rom their traditional brands for what they see as healthier alternatives.
Chairman and chief executive Ken Powell said: "Our net sales performance did not meet our expectations due to the challenging macro environment, a difficult year-over-year comparison, and a slower start to the year on certain businesses.
"We are taking actions to improve our net sales performance going forward, leveraging our Consumer First focus."
However, the group did repeat its full year fiscal 2017 guidance for adjusted EPS growth to be between six and eight percent.
Shares eased 0.56% to US$64.26.