General Mills (NYSE: GIS) reported first-quarter 2020 financial results before the opening bell on Wednesday. The company reported a 9% increase in Q1 revenues to $4.36 billion, beating the Wall Street consensus. Adjusted earnings of $1 per share was also better than what analysts had anticipated.
GIS shares rose 2.6% immediately following the announcement. The stock has jumped 11% since the beginning of this year.
CEO Jeff Harmening said, “In an uncertain environment, our job is to stay focused on what we can control. We are positioned to compete and win in our categories this year, regardless of the level of demand. And we’ll do that while driving efficiency, reducing our debt leverage, and investing for long-term success.”
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Shares of Gap Inc. (NYSE: GPS) were up 5.8% in afternoon hours on Friday. The stock has gained 103% over the past 12 months. Gap reported mixed results for the