The company鈥檚 divestiture of its Canada yogurt business also shaved 1% off net sales. Adjusted per-share profit fell 15% in constant currency to $1.00, though it still beat analyst estimates of 96 cents. Given the challenging landscape, General Mills lowered its full-year organic sales forecast and now expects a decline of 1.5% to 2%, down from its prior view of flat to 1% growth.
In some markets like Singapore, Canada, and Brazil, over half of all digital shoppers buy cross-border. Factors that drive cross-border growth include limited local product selection, favorable import duties and taxes, global pricing discrepancies, positive trade relations, and/or proximity to a large ecommerce market that can easily serve their needs.