General Mills Inc, the maker of Cheerios cereal and Betty Crocker cake mixes, cut its full-year sales and profit growth forecast, blaming weak demand in the United States and slowing growth in its key emerging markets.
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Shares of the company fell 3.6 percent in early trading.
General Mills said it expects net sales for the year ending May to grow at a low single digit rate in constant currency, compared with its previous forecast of mid single-digit growth.
The company said it expects full-year adjusted earnings per share to grow at a low single-digit rate in constant currency. It earlier forecast high single-digit growth. (Reporting by Shailaja Sharma in Bangalore; Editing by Maju Samuel)