MINNEAPOLIS, Feb. 17, 2015 /PRNewswire/ -- In conjunction
with a presentation today at the Consumer Analyst Group of
New York (CAGNY) investor
conference, General Mills (NYSE: GIS) reaffirmed its key financial
targets for the fiscal year ending May
31, 2015. Net sales in constant currency are expected
to grow at a low single-digit rate from the 2014 base of
$17.9 billion. Total segment
operating profit in constant currency is expected to decline at a
low single-digit rate from prior-year results of $3.15 billion. Fiscal 2015 adjusted diluted
earnings per share (which excludes mark-to-market valuation
effects, currency devaluation and restructuring costs) are expected
to grow at a low-single-digit rate in constant currency from the
base of $2.82 earned in fiscal
2014.
A webcast of today's General Mills presentation at the CAGNY
conference can be accessed live via the internet at:
www.generalmills.com. The webcast will be archived on General
Mills' website through March 6,
2015.
This press release contains forward-looking statements within
the meaning of The Private Securities Litigation Reform Act of 1995
that are based on management's current expectations and
assumptions. These forward-looking statements are subject to
certain risks and uncertainties that could cause actual results to
differ materially from the potential results discussed in the
forward-looking statements. In particular, our predictions about
future net sales and earnings could be affected by a variety of
factors, including: competitive dynamics in the consumer foods
industry and the markets for our products, including new product
introductions, advertising activities, pricing actions and
promotional activities of our competitors; economic conditions,
including changes in inflation rates, interest rates, tax rates or
the availability of capital; product development and innovation;
consumer acceptance of new products and product improvements;
consumer reaction to pricing actions and changes in promotion
levels; acquisitions or dispositions of businesses or assets;
changes in capital structure; changes in the legal and regulatory
environment, including labeling and advertising regulations and
litigation; impairments in the carrying value of goodwill, other
intangible assets, or other long-lived assets, or changes in the
useful lives of other intangible assets; changes in accounting
standards and the impact of significant accounting estimates;
product quality and safety issues, including recalls and product
liability; changes in consumer demand for our products;
effectiveness of advertising, marketing and promotional programs;
changes in consumer behavior, trends and preferences, including
weight loss trends; consumer perception of health-related issues,
including obesity; consolidation in the retail environment; changes
in purchasing and inventory levels of significant customers;
fluctuations in the cost and availability of supply chain
resources, including raw materials, packaging and energy;
disruptions or inefficiencies in the supply chain; volatility in
the market value of derivatives used to manage price risk for
certain commodities; benefit plan expenses due to changes in plan
asset values and discount rates used to determine plan liabilities;
failure or breach of our information technology systems; foreign
economic conditions, including currency rate fluctuations; and
political unrest in foreign markets and economic uncertainty due to
terrorism or war. The company undertakes no obligation to publicly
revise any forward-looking statements to reflect any future events
or circumstances.
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SOURCE General Mills, Inc.