General Mills Issues Soft Outlook, Restructuring Costs Soar To $165 Million - General Mills (NYSE:GIS)

General Mills lowers sales, profit outlook as stressed consumers spend less

The Minnesota-based food company lowered its outlook in the face of “historically low consumer sentiment, heightened uncertainty and significant volatility,” CEO Jeff Harmening said.

Food stocks tumble after General Mills warns of a weak consumer

General Mills Cheerios cereal for sale at a grocery store in the US.Al Drago/Getty ImagesGeneral Mills revised its sales and profit outlook to reflect a deeper dip than previously expected.The company's CEO said a weakening consumer is weighing on results.The Cheerios maker's stock fell 7% on Tuesday, along with other food stocks like Campbell's and Kraft-Heinz.Packaged food stocks fell during Tuesday's trading session after General Mills lowere…

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," th…

General Mills Issues Soft Outlook, Restructuring Costs Soar To $165 Million - General Mills (NYSE:GIS)

General Mills anticipates 4% reduction in net sales growth due to volatility.

General Mills wipes out prospects for growth amid “challenging backdrop”

General Mills has wiped out any prospect of organic sales growth this year as volumes take longer to recover than anticipated.The post General Mills wipes out prospects for growth amid “challenging backdrop” appeared first on Just Food.

General Mills Sounds the Alarm: How America’s Pantry Giant Became a Canary in the Economic Coal Mine

When one of America’s most storied food companies—maker of Cheerios, Häagen-Dazs, and Betty Crocker—steps to the podium and tells Wall Street that consumers are pulling back in ways not seen in years, the investment community takes notice. General Mills’ latest earnings report has sent tremors through the consumer staples sector, offering a sobering portrait of an American household under mounting financial pressure. The Minneapolis-based food c…