Cheerios maker says cost of living, housing expenses changing way consumers spend

Cheerios maker General Mills cut its annual sales and profit forecasts, citing weak consumer sentiment and a shift toward healthier and lower-cost food options that are pressuring demand for packaged products.

"Weak consumer sentiment, heightened uncertainty, and significant volatility have weighed on category growth and impacted consumer purchase patterns, resulting in a slower pace and higher cost of volume recovery than initially expected," the company said in a statement ahead of its...