Cheerios maker General Mills Inc. cut its guidance for fiscal 2025 sales, citing retailer inventory and a snacking slowdown.
Organic sales are expected to fall as much as per cent in this year, the company said on Wednesday. General Mills had previously projected a gain of as much as 1 per cent.
The company’s shares fell as much as 5. per cent in trading before US markets opened. The stock had declined about 5 per cent this year through Tuesday, roughly the same drop as the S&P 500 Index.
With increasing economic uncertainty, consumers are pulling back, including on their spending on food. Packaged food makers, including General Mills and Kraft Heinz, have been cutting prices, but it isn’t a guaranteed lever to spur sales.
---
Deena Shanker, Bloomberg News
©2025 Bloomberg L.P.
