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General Mills Inc (GIS)

GIS on New York Consolidated

57.53USD
16 Aug 2017
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Latest Key Developments (Source: Significant Developments)

General Mills CEO - We've pulled back too far on investments in some key categories in FY2017
Wednesday, 28 Jun 2017 11:51am EDT 

June 28 (Reuters) - General Mills :CEO - we've pulled back too far on investments in some key categories and our overall execution was not up to our normal standards in fy2017.CEO - Q4 U.S. Meals & baking net sales decreased 1% hurt by declines in pillsbury refrigerated dough.CFO - " U.S. Industry trends in last few quarters have been challenging, not planning for a significant turnaround in those trends this year".CEO- began to see some improvement in our u.s. Retail sales trends in Q4.CEO- saw improvement in retail sales trends driven by strong merchandising execution and lower price, expect to drive further improvement over fy 2018.CEO- Oui yogurt pricing is premium but affordable.CEO- moderating pace of margin expansion as we focus on topline growth.CEO- " missed the mark last year on promotional spending, on soup and refrigerated dough. So in fy18 our goal is to be in the zone on pricing during the key season".CEO- "we're not looking to win on price... But we know we need to be more competitive this year".CEO- " all of our major customers have e-commerce components. ..there are a variety of customers who participate in e-commerce and so it's not going to be just one winner".CEO on Amazon-Whole Foods deal- "we've got great relationships with Amazon, and with Whole Foods...we feel like we're pretty well positioned".  Full Article

General Mills reports Q4 earnings per share $0.69
Wednesday, 28 Jun 2017 06:57am EDT 

June 28 (Reuters) - General Mills Inc :General Mills reports fourth-quarter and full-year fiscal 2017 results; provides 2018 outlook.Q4 adjusted non-GAAP earnings per share $0.73.Q4 earnings per share view $0.71 -- Thomson Reuters I/B/E/S.Q4 earnings per share $0.69.General Mills Inc - Fourth-quarter net sales for General Mills' North America retail segment totaled $2.39 billion, down 3 percent from prior year.General Mills Inc - General Mills board of directors declared a quarterly dividend of $0.49 per share, payable August 1, 2017.FY 2018 organic net sales are expected to decline 1 to 2 percent..General Mills - Sees 2018 constant-currency adjusted diluted eps is expected to increase 1 to 2 percent from base of $3.08 earned in fiscal 2017.General Mills Inc - FY 2018 constant-currency total segment operating profit is expected to be in a range between flat and up 1 percent.General Mills Inc - Quarterly dividend of $0.49 per share represents an increase of 2 percent from previous quarterly rate of $0.48 per share.General Mills Inc - FY 2018 adjusted operating profit margin is expected to be above year-ago levels.General Mills Inc - Company estimates a 1 cent headwind from currency translation on full-year fiscal 2018 adjusted diluted EPS..General Mills Inc- Restructuring, impairment, and other exit costs totaled $183 million in 2017 compared to $151 million in 2016.General Mills Inc - "Results on topline fell well short of our standards" for fiscal 2017.  Full Article

General Mills signs deal with Renewable Energy Systems
Thursday, 8 Jun 2017 09:00am EDT 

June 8 (Reuters) - General Mills Inc ::General Mills Inc says signing of a virtual 15-year power purchase agreement with Renewable Energy Systems for 100-mw of its Cactus Flats wind project.  Full Article

Report that 3G Capital is interested in General Mills is not true - CNBC
Thursday, 4 May 2017 11:00am EDT 

May 4 (Reuters) - :Report that 3G Capital is interested in General Mills is not true - CNBC.  Full Article

General Mills names Jeff Harmening CEO
Wednesday, 3 May 2017 09:00am EDT 

May 3 (Reuters) - General Mills Inc :Jeff Harmening named chief executive officer of General Mills.General mills inc - harmening succeeds ken powell.General mills inc - powell will continue to serve as company's chairman for a transition period until his retirement, expected within next year.General mills inc - also elected harmening to general mills board of directors.  Full Article

J&J Snack Foods Corp says partnership with General Mills by announcing launch of Pillsbury Churro Bites
Tuesday, 11 Apr 2017 09:30am EDT 

General Mills Inc :J&J Snack Foods Corp says partnership with General Mills by announcing launch of Pillsbury Churro Bites.  Full Article

General Mills Q3 adjusted earnings per share $0.72
Tuesday, 21 Mar 2017 06:56am EDT 

General Mills Inc : General Mills reports fiscal 2017 third-quarter results . Q3 adjusted earnings per share $0.72 . Q3 earnings per share $0.61 . Q3 sales $3.79 billion versus I/B/E/S view $3.83 billion . Q3 earnings per share view $0.71 -- Thomson Reuters I/B/E/S . General Mills Inc - General Mills reaffirmed its key full-year fiscal 2017 targets . General Mills Inc - third-quarter net sales for general mills' North America retail segment totaled $2.50 billion, down 7 percent from prior year . FY 2017 earnings per share view $3.06, revenue view $15.63 billion -- Thomson Reuters I/B/E/S . General Mills Inc - net sales in quarter declined due primarily to gaps in pricing and promotional activity in key U.S. Businesses . General Mills - qtrly operating profit totaled $542 million, down 7 percent from year-ago levels due to higher restructuring charges related to recent global reorganization . General Mills Inc - restructuring, impairment, and other exit costs totaled $78 million in quarter compared to $17 million a year ago . General Mills Inc - third-quarter net sales for general mills' Europe & Australia segment totaled $424 million, down 3 percent from prior year .General Mills Inc - third-quarter net sales for general mills' Asia & Latin America segment totaled $421 million, essentially matching year-ago results.  Full Article

General Mills declared quarterly dividend of $0.48/share
Tuesday, 14 Mar 2017 12:00pm EDT 

General Mills Inc : General Mills quarterly dividend declared . Increases FY dividend by 8 percent to $1.92 per share .Says board of directors declared a quarterly dividend at prevailing rate of $0.48 per share.  Full Article

General Mills updates key financial targets for fiscal 2017
Friday, 17 Feb 2017 08:04am EST 

General Mills Inc : General Mills updates key financial targets for fiscal 2017 . General Mills Inc - General Mills fiscal 2017 organic net sales are now expected to decline approximately 4 percent . Says fiscal 2017 organic net sales are now expected to decline approximately 4 percent . General Mills Inc - company expects to deliver an adjusted operating profit margin of at least 18 percent in fiscal 2017 . General Mills Inc - fiscal 2017 adjusted diluted earnings per share (EPS) are expected to increase 5 to 7 percent in constant currency . General Mills Inc - fiscal 2017 adjusted diluted earnings per share are expected to increase 5 to 7 percent in constant currency . Company expects FY17 free cash flow to increase at a mid single-digit rate . General Mills Inc - remains on track to deliver $380 million in cost-of-goods savings from holistic margin management . General Mills Inc- total segment operating profit growth in constant currency is expected to range from down 1 percent to up 1 percent for 2017 . General Mills - in response to revised second-half growth expectations driven by recent sales performance on u.s. Yogurt, soup, reducing 2017 sales, earnings outlook . General Mills Inc - for fiscal 2017, currently expect impact of foreign currency exchange rates to decrease net sales growth by 100-200 basis points . FY2017 earnings per share view $3.08, revenue view $15.69 billion -- Thomson Reuters I/B/E/S.  Full Article

General Mills files for potential notes offering, size not disclosed
Monday, 9 Jan 2017 10:40am EST 

General Mills Inc : Files for potential notes offering, size not disclosed - sec filing .Notes will be issued only in denominations of $2,000 and integral multiples of $1,000 in excess thereof.  Full Article

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Target appoints Walmart, General Mills executives to shore up grocery business

CHICAGO Target Corp said on Monday it has hired two former executives from Wal-Mart Inc and General Mills Inc to join its food and beverage business, as the retailer seeks to revamp its grocery aisles.