General Mills Sees Comparable Sales Rising 3.5% For Fiscal Year
24 March 2021 - 11:01PM
Dow Jones News
By Micah Maidenberg
General Mills Inc. said it expects sales to grow about 3.5% on a
comparable basis for its current fiscal year.
The branded food manufacturer reported fiscal third quarter
results Wednesday. Through the first three periods of its year,
comparable sales were up 8%, it said.
During its fourth quarter, the company expects comparable sales
to be offset in part "by a difficult comparison … reflecting the
initial pandemic-driven surge in at-home food demand."
General Mills also said it believes its full-year adjusted
operating profit margin will be in line with fiscal 2020
levels.
"Better-than-expected first-half adjusted operating profit
margin results are now expected to be offset by higher input cost
inflation and higher logistics costs in the second half," the
company said.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
March 24, 2021 07:46 ET (11:46 GMT)
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