General Mills: Reaffirms Fiscal 2017 Financial Targets

Minneapolis / MN. (gm) In conjunction with a presentation at the Barclays Global Consumer Staples Conference, General Mills Inc. reaffirmed its key financial targets for the fiscal year ending May 28, 2017. These targets include organic net sales growth between flat and down 2 percent; total segment operating profit growth between 6 and 8 percent in constant currency; 150 basis points of adjusted operating profit margin expansion; and adjusted diluted earnings per share growth between 6 and 8 percent in constant currency. General Mills also commented on the 2017 first quarter, which will be reported on September 21, 2016. The company expects organic net sales growth in the quarter ended August 28, 2016, will be below its full-year guidance range. First quarter constant-currency adjusted diluted earnings per share are expected to be below last year’s levels that grew 36 percent. General Mills’ complete presentation, which also includes highlights of its 2017 global business plans and details on Annie’s and other natural and organic brands, can be accessed on the company’s website.