General Mills sees tepid annual profit, posts Q4 sales decline as demand falters

General Mills expects annual dollar value growth in its businesses to be below its long-term projections. The company faces challenges from lower demand for snack bars and pet food, higher input costs, and competition from lower-priced private labels.

The drop in demand for General Mills' products can be attributed to several factors, including ongoing macroeconomic uncertainty, value-seeking behavior by consumers, and competition from lower-priced private labels. Additionally, higher input costs such as sugar and labor, as well as supply chain disruptions, have contributed to the decline in sales.