MINNEAPOLIS — General Mills Inc. today posted fiscal fourth-quarter financial results that beat Wall Street expectations for revenue and profit.
Sales rose 1% in the quarter, lifted by higher prices. The company said it had stopped lowering prices after price cuts led to a revenue decline in the previous quarter.
Organic sales in its North American segment were flat for the quarter, exceeding analysts’ expectations. The company has been contending with weakened demand for processed food.
General Mills’ portfolio of brands includes Cheerios, Pillsbury, Betty Crocker, Nature Valley, Häagen-Dazs, and Annie’s.
"With our price investment work behind us, our focus in fiscal 2027 is to improve our topline growth by driving a step change in the remarkability of our brands,” said CEO Jeff Harmening. “This includes a significant increase in innovation and renovation centered on the benefits that matter most to today’s consumers."
Added Harmening, "We’re targeting $3 billion in cumulative cost savings by fiscal 2030, primarily through our Holistic Margin Management productivity program and our global transformation initiative, with $750 million expected to be delivered in fiscal 2027."
