General Mills sees tepid annual profit, posts Q4 sales decline as demand falters
What are General Mills' expectations for annual dollar value growth?
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.
What factors contributed to the drop in demand for General Mills' products?
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.
What are the expected full-year adjusted profit percentages for General Mills?
General Mills expects full-year adjusted profit to range between a 1% decrease and a 1% increase. This is in comparison to analysts' estimates of a 3.7% rise, according to LSEG data.