General Mills Offers Cautious Outlook For Its First Fiscal Quarter

By Markets MarketWatch Pulse

General Mills Inc. said Wednesday it still expects to meet its targets for fiscal 2017 ending May 28, including organic net sales growth of flat to down 2%. But the maker of Cheerios, Annie's and Yoplait said first-quarter to Aug. 28 organic net sales growth will be below the full-year guidance range. "First quarter constant-currency adjusted diluted earnings per share are expected to be below last year's levels that grew 36 percent," the company said in a statement ahead of a presentation. Shares have gained 23% in the year to date, while the S&P 500 has gained about 7%.

Continue Reading Below

Copyright © 2016 MarketWatch, Inc.