General Mills: Reaffirms Fiscal 2014 Earnings Guidance

Minneapolis / MN. (gm) In remarks at the Barclays Back-to-school Conference in Boston, General Mills discussed its long-term growth prospects and reaffirmed its key financial targets for the fiscal year ending May 2014. This includes targeted fiscal 2014 adjusted diluted earnings per share of 2,87 USD to 2,90 USD. General Mills also commented on the 2014 first quarter (to be reported on September 18, 2013). The company expects net sales growth in the quarter ended August 25, 2013 will include good contributions from new products and three months of incremental contribution from Yoplait Canada and Yoki in Brazil. First quarter gross margin is expected to be lower, reflecting input cost inflation and the change in business mix. First quarter segment operating profit is expected to grow despite a foreign exchange headwind and higher levels of advertising and media investment.