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General Mills, Inc. (NYSE: GIS) is a global leader in the food processing sector, headquartered in Minneapolis, Minnesota. Operating in more than 100 countries, General Mills markets an extensive portfolio of over 100 consumer brands including household names such as Cheerios, Yoplait, Betty Crocker, Pillsbury, Häagen-Dazs, Nature Valley, Green Giant, Old El Paso, Progresso, Cascadian Farm, and Muir Glen.
The company produces a wide range of food products categorized into snacks, cereals, convenient meals, yogurt, dough, baking mixes and ingredients, pet food, and superpremium ice cream. In fiscal 2023, a significant 81% of the company's revenue was generated from the United States. However, General Mills maintains a robust international presence with operations in Canada, Europe, Australia, Asia, and Latin America.
General Mills' consumer base primarily comprises retail stores, but the company also provides products to foodservice channels and the commercial baking industry. The company is well-regarded for its commitment to quality, innovation, and sustainability, making it a trusted name in households worldwide.
Recent achievements include the expansion of its pet food line, particularly through the Blue Buffalo brand, which has seen substantial growth. Additionally, the company has invested in sustainable sourcing and production techniques, ensuring long-term environmental stewardship. Key partnerships with various retailers and distributors have further cemented General Mills' position as a market leader.
General Mills continues to focus on health-oriented products, meeting the growing consumer demand for nutritious and convenient food options. The company’s strategic initiatives and ongoing projects reflect its dedication to adapting to changing market dynamics while maintaining its legacy of delivering high-quality food products.
General Mills announced a $15 million investment through its venture capital arm, 301 INC, into two early-stage funds: Fearless Fund and Supply Change Capital. This move aims to enhance minority and female representation in food entrepreneurship by bridging the capital gap for underrepresented founders. Since 2021, 80% of 301 INC's investments have targeted minority-led businesses. The initiative aligns with General Mills' commitment to improving equity in food access and opportunities, highlighting its focus on supporting sustainable and diverse food businesses.
General Mills (GIS) reported third-quarter results for fiscal 2022, with net sales at $4.5 billion, reflecting a 4% increase in organic net sales. Operating profit decreased 1% to $815 million, while diluted EPS rose 13% to $1.08. The company raised its fiscal 2022 guidance, anticipating organic net sales growth of approximately 5%. Challenges included a decline in gross margin to 30.9% due to rising input costs. The Pet segment saw strong growth (30% net sales increase), while the International segment faced a decline (23% decrease in net sales). Overall, General Mills shows resilience in a volatile market.
General Mills has launched a sweepstakes for Totino’s products at Walmart, running from April 1 to May 31. Customers purchasing select Totino’s Pizza Rolls and Party Pizza packs can win a Nintendo Switch prize pack or various Nintendo games. The grand prize includes a Nintendo Switch – OLED Model, Joy-Con controller, and two popular games, valued at approximately $579.95. In total, forty grand prizes and one hundred first prizes are available, with all participants receiving 100 My Nintendo Platinum Points. This initiative aims to enhance customer engagement and drive sales.
Dunkaroos, the iconic snack brand, has announced its first-ever All-DUNKaroos college basketball team, featuring five top athletes. Miles Bridges, a professional dunker and former college star, will reveal the team during the March college basketball tournament. Each player will receive a Dunkaroos Slam Dunk Delivery Box, complete with custom Dunkaroos shoes and other merchandise. Since its comeback in 2020, Dunkaroos has seen significant online engagement and offers two flavors at a retail price of
General Mills, Inc. (NYSE: GIS) is set to report its fiscal 2022 third quarter results on March 23, 2022. A press release, management remarks, and slides will be available that morning, followed by a webcast Q&A session at 8:00 a.m. CT. The company emphasizes its commitment to driving shareholder value through its Accelerate strategy, focusing on brand building and innovation. General Mills generated $18.1 billion in net sales in fiscal 2021, in addition to $1.1 billion from non-consolidated joint ventures.
General Mills is launching a new children's book titled The Magic Inside, featuring Lucky from Lucky Charms. The book tells Lucky's coming-of-age story and will be celebrated with a live reading and Q&A by actor Taye Diggs on Instagram on
General Mills announces the opening of The Taco Shop by Old El Paso in partnership with the LeBron James Family Foundation at House Three Thirty, aimed at supporting community job training and engagement. Set to open next year, the restaurant will serve a variety of menu items inspired by family recipes, including tacos and burritos. The initiative extends the longstanding collaboration between Old El Paso and LJFF, enhancing their commitment to family and community support through programming for I PROMISE families and local residents.
General Mills reaffirmed its fiscal 2022 guidance during the CAGNY 2022 Conference, emphasizing its Accelerate strategy aimed at profitable growth and shareholder returns. Key initiatives include portfolio reshaping through strategic acquisitions like Blue Buffalo and divestitures in Europe. The company expects organic net sales growth of 4-5% and adjusted operating profit to decline by 1-4%. Additionally, supply shortages in North America are anticipated to impact short-term performance, with a focus on addressing these issues to enhance future growth.
General Mills (NYSE: GIS) announced its executives will speak at the Consumer Analyst Group of New York Conference on February 22, 2022. CEO Jeff Harmening, Dana McNabb (Chief Strategy and Growth Officer), and Kofi Bruce (CFO) will present a pre-recorded session starting at 7:00am CT. A replay will be available on their investor website after the event. General Mills, headquartered in Minneapolis, generated $18.1 billion in net sales for fiscal 2021, with an additional $1.1 billion from joint ventures.
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