General Mills’ outlook for “improvement” fails to convince investors

An “improvement” was the operative word for General Mills as it peers into the fourth quarter and new fiscal year financial performance. That was the view of chairman and CEO Jeff Harmening yesterday (18 March) as he reported across across-the-board third-quarter declines in organic sales, volumes, operating profit and EPS at the US food group. Despite his optimism, shares in General Mills dropped 3% to $37.59 as the Pillsbury and Nature Valley brand owner stuck with its forecast the the company will se ...