In June, General Mills came out in support of equality and encouraged Minnesota to vote NO on the mean-spirited marriage amendment. Today, I’m happy to report that the “Dump General Mills” boycott put on by Minnesota for Marriage had no impact on company performance. Both sales and profits rose for the quarter and General Mills shared that the results were “a little bit better than we’d planned.”
Not only have sales and profits increased, but the stock price is up five percent since mid-June as well! With all of that said, Carlton Marketing Professor, Akshay Rao, had this to say:
To make a connection between an earnings report and a particular social phenomenon is very difficult. … What you can infer, based on how quiet everything has been since the initial flurry of protests and counterprotests, is that the issue pretty much lost steam. And I think there’s been a good reason for that.
Ok, so with my Business background, I’d probably have to agree. However, it sure is sweet to see sales and profits rise despite rallies and boycotts put on by Minnesota for Marriage.
More evidence that standing up for what is right doesn’t cause the backlash some may fear. Now I ask: Where are you other Minnesota-based companies? The water out here is really nice; I think it’s time to jump in to vote NO!