Latest news with #HaagenDazs
South China Morning Post
29-06-2025
- Business
- South China Morning Post
Foreign ice cream is no longer cool in China. Here's why that matters
For years, Feng Hui, an operations manager living in Guangzhou, made a tradition of taking her daughter Claire to celebrate her birthday at a Haagen-Dazs store near her home. Advertisement But this month, the 14-year-old had other ideas: she told her mother she wanted to spend her birthday at a popular local tea bar with her friends. 'Chinese teenagers now prefer domestic brands – they look great, and new products are coming out every month that tempt them to take selfies and post on social media,' Feng said. The birthday cake also got a makeover. Instead of a Haagen-Dazs ice cream cake – which used to be a byword in China for luxury and sophistication – Claire chose a custom-made cake from a local bakery featuring her favourite video game character. In her eyes, Haagen-Dazs is simply 'not cool' – a sentiment that is becoming common among young Chinese, reflecting broader shifts in the country's consumer landscape. Advertisement
South China Morning Post
29-06-2025
- Business
- South China Morning Post
Foreign ice cream is no longer cool in China. Here's why that matters
For years, Feng Hui, an operations manager living in Guangzhou, made a tradition of taking her daughter Claire to celebrate her birthday at a Haagen-Dazs store near her home. But this month, the 14-year-old had other ideas: she told her mother she wanted to spend her birthday at a popular local tea bar with her friends. 'Chinese teenagers now prefer domestic brands – they look great, and new products are coming out every month that tempt them to take selfies and post on social media,' Feng said. The birthday cake also got a makeover. Instead of a Haagen-Dazs ice cream cake – which used to be a byword in China for luxury and sophistication – Claire chose a custom-made cake from a local bakery featuring her favourite video game character. In her eyes, Haagen-Dazs is simply 'not cool' – a sentiment that is becoming common among young Chinese, reflecting broader shifts in the country's consumer landscape.
Yahoo
26-06-2025
- Business
- Yahoo
General Mills Inc (GIS) Q4 2025 Earnings Call Highlights: Strategic Investments and Product ...
Volume Growth: Focus on returning to volume growth, particularly in North America Retail (NAR). Value Investments: Expanded investments in value for products like soup, cereal, and fruit snacks. Product Innovation: Launches in fresh pet food and protein innovation in NAR portfolio; renovation of Haagen-Dazs stick bars. International Share Growth: Achieved share growth in international businesses, food service, health share, and pet segments. Margin Management: Record levels of holistic margin management and productivity initiatives. Warning! GuruFocus has detected 5 Warning Sign with MU. Release Date: June 25, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. General Mills Inc (NYSE:GIS) is focusing on returning to volume growth, particularly in North America Retail (NAR), with successful investments in value and advertising for brands like Pillsbury and Totino's. The company is launching new products and renovating existing ones, such as Haagen-Dazs stick bars, which are expected to drive growth. General Mills Inc (NYSE:GIS) has seen share growth in international businesses, food service, and health share, providing confidence in their global strategy. The company is backing up investments with record levels of holistic margin management and productivity initiatives. The national launch of Blue Buffalo in the fresh pet food category is expected to be profitable and grow the business, supported by strong consumer reception and retailer interest. The level of reinvestment planned for fiscal '26 is deeper than anticipated, raising concerns about the margin profile and potential long-term impacts. There is uncertainty regarding the reversal of inventory build in the pet segment, which has shown lumpiness and volatility. The organic revenue growth guidance for fiscal '26 is flat, with challenges in achieving positive pricing territory. The fresh pet food category growth has slowed, impacting expectations for the business's long-term potential. Salty snacks have underperformed due to undersized participation in growth trends, requiring significant improvements in value proposition and marketing. Q: Can you provide insights into the national launch of Blue Buffalo and its margin potential? A: Jeffrey Harmening, CEO, explained that the Blue Buffalo brand resonated well in test markets, with strong repeat rates. The national launch allows for scale marketing, and while it requires investment, they are confident in building a profitable business. Dana McNabb, Group President, added that the launch will be in all 50 states with flexible formats to cater to pet parents' preferences. Q: How will the reinvestment in fiscal '26 impact margins, and are there temporary factors affecting this? A: Kofi Bruce, CFO, noted that some factors are temporary, such as the fresh investment, which will become profitable over time, and tariff effects, which they aim to mitigate. The divestiture of Yoplait also contributes to temporary costs, but they are focused on eliminating these over time. Q: Can you clarify the inventory build in Pet for Q4 and the underlying performance of the Pet segment? A: Jeffrey Harmening, CEO, stated that inventory levels are stable, with some lumpiness due to e-commerce sales. The Pet business is back to stability, with growth in the cat segment and successful integration of Tiki Cat. They aim to grow the core Blue Buffalo business alongside the fresh launch. Q: How do you ensure that pricing investments do not lead to a race to the bottom? A: Jeffrey Harmening, CEO, emphasized targeted pricing actions in specific categories to align with competition and enhance marketing effectiveness. The focus is on maintaining premium brand positioning while ensuring marketing and new product initiatives drive growth. Q: What are the expectations for organic revenue growth and category performance in fiscal '26? A: Kofi Bruce, CFO, highlighted that trade expense phasing will impact the first half of the year, with easing comps in the second half. They are focused on competitiveness rather than relying on category growth rebound, aiming for growth in line with categories. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Free Malaysia Today
11-06-2025
- Business
- Free Malaysia Today
General Mills mulls sale of Haagen-Dazs stores in China
Haagen-Dazs ice cream will continue to be sold in Chinese supermarkets and convenience stores. (AFP pic) MINNEAPOLIS : General Mills is considering selling its Haagen-Dazs ice cream stores in China, Bloomberg News reported today, citing people familiar with the matter. The Minneapolis, Minnesota-based company may seek several hundred million dollars for the assets in a sale process that could begin this year, the report added. The discussions are in early stages and the company may not pursue a sale, the report said, adding that General Mills intends to continue selling Haagen-Dazs in places such as supermarkets and convenience stores in China. Reuters could not immediately confirm the report. General Mills did not immediately respond to a Reuters request for a comment. General Mills has been undergoing a restructuring and said last month that it would record a charge of about US$70 million in its current quarter. The restructuring efforts, estimated at around US$130 million, are expected to be completed by the end of its fiscal year 2028. Packaged food companies including McCormick, General Mills and Conagra Brands have faced slowing demand as sticky inflation has compelled budget-conscious customers to hunt for value even for essential items such as groceries.
Reuters
11-06-2025
- Business
- Reuters
General Mills mulls sale of China Haagen-Dazs stores, Bloomberg News reports
June 11 (Reuters) - General Mills (GIS.N), opens new tab is considering selling its Haagen-Dazs ice-cream stores in China, Bloomberg News reported on Wednesday, citing people familiar with the matter. The Minneapolis, Minnesota-based company may seek several hundred million dollars for the assets in a sale process that could begin this year, the report added. The discussions are in early stages and the company may not pursue a sale, the report said, adding that General Mills intends to continue selling Haagen-Dazs in places such as supermarkets and convenience stores in China. Reuters could not immediately confirm the report. General Mills did not immediately respond to a Reuters request for a comment. General Mills has been undergoing a restructuring and said last month that it would record a charge of about $70 million in its current quarter. The restructuring efforts, estimated at around $130 million, are expected to be completed by the end of its fiscal year 2028. Packaged food companies including McCormick, General Mills and Conagra Brands (CAG.N), opens new tab have faced slowing demand as sticky inflation has compelled budget-conscious customers to hunt for value even for essential items such as groceries.
