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2026-02-17 20:56:09
[Weak Consumer Confidence Leads to General Mills Lowering Full-Year Guidance] ⑴ General Mills lowered its full-year sales and profit forecasts on Tuesday, citing a challenging consumer environment. The company stated that "weak consumer confidence, increased uncertainty, and significant volatility" dragged down category growth and affected consumer buying patterns, resulting in a slower-than-expected recovery in sales volume and higher costs. ⑵ Under the latest guidance, the company expects full-year organic net sales to decline by 1.5% to 2%, compared to a previous forecast of a 1% decline to a 1% increase. Adjusted earnings per share, on a constant currency basis, are expected to decline by 16% to 20%, compared to a previous forecast of a 10% to 15% decline. ⑶ Facing the weak consumer environment, General Mills stated that it will prioritize product innovation and expects net sales of new products to grow by 25% in 2026. In pre-market trading, the company's stock price fell 3.4% to $46.70.
