General Mills cuts full-year sales, profit growth forecast


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.

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)