MINNEAPOLIS -- The upward spiral of pricing and promotional activity that has marked the ready-to-eat cereal category in recent years was broken last week by General Mills here. General Mills said last week it would cut coupon and price promotion spending for cereals by 30% -- or $175 million annually -- and reduce prices for its leading brands by an average of 11%. General Mills' new high-impact pricing strategy marked the clearest sign in a series of recent indications that the cereal ...
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