General Mills Warns: The Consumer Has Checked Out General Mills, maker of iconic brands like Cheerios, has slashed its annual sales and profit forecasts. The reason? The American consumer is tapped out. According to CEO Jeff Harmening, the twin weights of rising housing costs and inflation have permanently reshaped household spending. Lower- and middle-income Americans—the very backbone of General Mills’ customer base—are now laser-focused on value and survival, not brand loyalty or convenience. This isn’t a bump in the road. It’s a permanent detour. From Frosted Flakes to Frugality: The New American Diet In years past, Americans loaded their pantries with shelf-stable comfort foods—cereal, chips, frozen meals. But now, sales of packaged food are tumbling, and companies are blaming a…
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