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01.07.26 - 16:00
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General Mills Shares Gain On Higher Q4 Adj. Earnings, Sales Growth; $3 Bln Cost Savings Target (RTTNews)
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Shares of General Mills, Inc. were gaining around 7 percent in the early morning trading on the NYSE, after the branded food major reported Wednesday higher fourth-quarter adjusted earnings and net sales, and announced a $3 billion cost savings plan by fiscal 2030. Meanwhile, including one-time costs, the company slipped to a hefty loss in the quarter, and warned on weak adjusted earnings in FY27....
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18.03.26 - 12:48
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ROUNDUP: General Mills Reaffirms FY26 Outlook (AFX)
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WASHINGTON (dpa-AFX) - While reporting financial results for the third quarter on Wednesday, branded food company General Mills, Inc. (GIS) said it continues to project adjusted earnings per share......
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17.12.25 - 17:51
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General Mills Earnings Top Expectations But CEO Warns Of ′K-Shaped′ Bifurcation (ZeroHedge)
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General Mills Earnings Top Expectations But CEO Warns Of 'K-Shaped' Bifurcation
General Mills reported better-than-expected quarterly earnings. Organic revenue fell 1% in the fiscal second quarter, much less than the Bloomberg Consensus estimate of -2.53%, while volumes remained flat after an 8% plunge in the first quarter. Still, the packaged food giant, with more than 100 brands worldwide, cautioned that a bifurcated consumer environment persists across North America.
"While we're encouraged by the progress we're making in improving volume, we've seen a change in consumer behavior this year that is driving an increase in the cost of volume across our categories," CEO Jeff Harmening said in prepared remarks.
But Harmening warned about the "K-shaped" economy, also known as the bifurcated consumer environment, where middle-income and upper-income households are doing just fine, while lower-income, working-class households are under pressure from lingering effects of fa...
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