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General Mills Inc (GIS.N)

GIS.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

General Mills CFO says 60 pct of co's yogurt portfolio to be renovated by year end - Conf call
Wednesday, 21 Sep 2016 09:44am EDT 

General Mills Inc : Executive on conf call says Q1 U.S. cereal net sales down 4 percent due to lower customer inventory levels . Executive on conf call says Q1 Progresso soup net sales declined in double digit driven by lower customer inventory levels . CFO on conf call says "By the end of the year, we will have renovated 60 percent of our yogurt portfolio" . Executive on conf call says transitioning entire line of soup to antibiotic free, more than 50 percent of Progresso soups contain chicken Further company coverage: [GIS.N] ((bangalore.newsroom@thomsonreuters.com;)).  Full Article

General Mills reports fiscal 2017 first-quarter results
Wednesday, 21 Sep 2016 07:01am EDT 

General Mills : Q1 adjusted earnings per share $0.78 excluding items . Q1 earnings per share $0.67 . Q1 earnings per share view $0.75 -- Thomson Reuters I/B/E/S . Q1 sales $3.9 billion versus I/B/E/S view $3.91 billion . Company reaffirms fiscal 2017 full-year outlook . First-Quarter net sales for General Mills' international segment totaled $1.13 billion, down 6 percent from prior year .First-Quarter net sales for General Mills' U.S. Retail segment totaled $2.33 billion, down 8 percent from prior year.  Full Article

General Mills reaffirms key fiscal 2017 financial targets
Wednesday, 7 Sep 2016 07:30am EDT 

General Mills Inc : General Mills reaffirms key fiscal 2017 financial targets . FY2017 earnings per share view $3.11, revenue view $16.19 billion -- Thomson Reuters I/B/E/S . Expects organic net sales growth in quarter ended August 28, 2016, will be below its full-year guidance range . Q1 constant-currency adjusted diluted earnings per share are expected to be below last year's levels that grew 36 percent .Q1 earnings per share view $0.77, revenue view $3.95 billion -- Thomson Reuters I/B/E/S.  Full Article

General Mills makes leadership changes in U.S. Retail and Europe-Australasia businesses
Tuesday, 30 Aug 2016 09:30am EDT 

General Mills Inc : General mills announces leadership changes in U.S. Retail and Europe-Australasia businesses . Jon Nudi has been named senior vice president; president, U.S. Retail, one of company's three operating segments . Says U.S. Retail role was previously held by Jeff Harmening .Replacing Nudi in Europe will be Bethany Quam who has been promoted to senior vice president, president, Europe,Australasia region.  Full Article

General Mills CEO Kendall J. Powell's 2016 total compensation $11 mln
Monday, 15 Aug 2016 05:30pm EDT 

General Mills Inc : CEO Kendall J. Powell's 2016 total compensation was $11 million versus $13.4 million in 2015 - SEC Filing . Says CFO Donal L. Mulligan FY 2016 total compensation $3.9 million versus $4.7 million in FY 2015 Source - http://bit.ly/2b7idsL Further company coverage: [GIS.N] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

U.S. CDC updates on outbreak of Shiga toxin-producing E.coli infections
Monday, 25 Jul 2016 05:22pm EDT 

U.S. CDC : Updates On Multistate Outbreak Of Shiga Toxin-Producing Escherichia Coli infections linked to flour . Since last update on July 1, four more ill people reported from two states (Minnesota and Wisconsin), bringing total number of cases to 46 . Producing Escherichia Coli (STEC o26), has been added to the outbreak investigation .One person has developed Hemolytic Uremic syndrome, a type of kidney failure.  Full Article

General Mills says expands retail flour recall
Monday, 25 Jul 2016 01:30pm EDT 

General Mills Inc: Due to 4 new confirmed illnesses, co is adding additional flour production dates to previously announced U.S. Retail flour recall . Expansion announced today includes select production dates through February 10, 2016 . No illnesses have been connected with flour that has been properly baked, cooked or handled .E.Coli detected in small number of co's flour samples, some linked to new patient illnesses that fell outside of previously recalled dates.  Full Article

General Mills to close snacks manufacturing facility in Marília, Brazil - SEC Filing
Thursday, 21 Jul 2016 10:00am EDT 

General Mills Inc : To eliminate excess capacity, will close snacks manufacturing facility in Marília, Brazil . Expect closing of Vineland facility to be completed by end of 2019 with cost of about $67 million of which about $20 million will be cash . Expect to pay about $7 million in cash related to restructuring international unit, anticipate completing actions by end of 2017 . In Q1 of fiscal 2017, General Mills announced plan to restructure certain product lines in its international segment . Will close snacks making facility in Marília, Brazil and cease production for meals and snacks at facility in São Bernardo Do Campo, Brazil . Will also cease production of certain underperforming snack products at facility in Nanjing, China . In Q1 of fiscal 2017, reached a definitive agreement to sell plant in Martel, OH . In Q1 of fiscal 2017, notified employees and union representatives at Vineland, NJ facility of tentative decision to close plant in fiscal 2018 . Definitive agreement to sell plant in Martel for approximately $18 million in cash . Expect to incur approximately $42 million of charges related to restructuring international unit . Expect to record a loss of approximately $11 million on sale of Martel plant in quarter in which transaction closes . Actions will affect about 420 positions in Brazilian operations and approximately 440 positions in Greater China operations.  Full Article

General Mills announces addition to July 1 flour recall
Monday, 11 Jul 2016 01:26pm EDT 

General Mills: Two flavors of Betty Crocker cake mix sold in U.S., one flavor sold in Canada added to company's announced flour recall from July 1, 2016 .No illnesses reported to date have been connected to cake mix; no other General Mills or Betty Crocker mixes are included in recall.  Full Article

CDC provides update on multistate outbreak of Shiga toxin-producing E.coli infections linked to flour
Friday, 1 Jul 2016 04:05pm EDT 

CDC : Multistate outbreak of Shiga toxin-producing E.coli O121 infections linked to flour ; 4 more ill people have been reported from 4 state .One new state, Indiana, has been added to the list of states with people ill due to Escherichia coli o121 infections linked to flour.  Full Article

Investors urge food companies to shift from meat to plants

LONDON A group of 40 investors managing $1.25 trillion in assets have launched a campaign to encourage 16 global food companies to change the way they source protein for their products to help to reduce environmental and health risks.