General Mills Pop's Past Consensus

General Mills (GIS) popped and wowed the market by beating analyst consensus. Great start for Q1. Such a great start that you have to wonder if they banked a few things to make the year look good after they gave up on last years results. Here is what you have to stay focused on. Overall sales are up 1%. Margins are up dramatically but they had to increase marketing spend by 16%. They must defend this increase as competitors will identify target rich opportunities and come after them.