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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.
Betty Crocker is launching 'Wicked'-inspired color-changing baking kits to celebrate Universal Pictures' upcoming film adaptation. The new products include:
1. Cookie Dough Pops and Cupcakes mixes that change color to green (Elphaba) or pink (Glinda) when stirred.
2. Six classic Betty Crocker products with 'Wickedly Better Together' recipe combinations, featuring special 'Wicked'-themed packaging.
The color-revealing kits will be available nationwide for a suggested retail price of $5.98. This launch marks Betty Crocker's first-ever 'mix-to-reveal' innovation, aiming to build excitement for the 'Wicked' film release on November 22.
The Pillsbury Bake-Off™ Contest is back for its 52nd iteration, this time featuring Donna Kelce, America's favorite football mom, as the host. The contest celebrates 'Holiday Family Favorites' and offers a grand prize of $50,000. Kelce, known for her famous crescent roll recipe inspired by the 1969 Pillsbury Bake-Off™ Contest winner, will join the Pillsbury Doughboy in judging entries.
Home cooks nationwide can submit their original family favorite recipes at Pillsbury.com/Bake-Off-Contest until September 30. The contest aims to inspire bakers and bring loved ones together around the table. Winners will be announced in November, just in time for the holiday season.
General Mills has partnered with NFL stars Travis and Jason Kelce to create a new cereal called Kelce Mix, combining their three favorite cereals: Cinnamon Toast Crunch, Lucky Charms, and REESE'S PUFFS. The brothers participated in a Cereal Training Camp, competing in challenges to win the opportunity to create this unique mix. The partnership also includes -edition Kelces' Pick boxes of Honey Nut Cheerios, Cinnamon Toast Crunch, Lucky Charms, and REESE'S PUFFS, featuring the brothers on the packaging.
The Kelce Mix and Kelces' Pick boxes will be available nationwide for $5.69 starting mid-September, with a -edition Walmart.com exclusive box launching on September 28. General Mills aims to capitalize on the Kelce brothers' popularity and their lifelong love for the company's cereals, creating a nostalgic and exciting product for cereal enthusiasts.
General Mills (NYSE: GIS) has announced its plan to report fiscal 2025 first quarter earnings results on September 18, 2024. The company will release a press release, pre-recorded management remarks, and supporting slides on the morning of the announcement. This will be followed by a webcasted question and answer session at 8 a.m. CT, focusing on the results. Investors and interested parties can access these materials and join the webcast through the company's investor relations website at www.generalmills.com/investors.
Kid Cudi, Grammy-winning artist, partners with Bisquick to launch a -edition Funnel Cake Mix. The collaboration brings the nostalgic taste of summer fairs home with a fair-themed collectible box featuring Kid Cudi and his dog Nino. The product aims to inspire fans to recreate the carnival experience at home.
Alongside the mix, a unique merchandise collection including T-shirts, plates, and aprons designed by Kid Cudi will be available. The -edition mix and merch will be sold exclusively on Kid Cudi's website starting August 23 at 9 a.m. PT. Bisquick's parent company, General Mills (GIS), sees this partnership as an opportunity to extend the summer spirit through iconic funnel cake flavors.
General Mills (NYSE: GIS) has announced that its top executives will participate in a fireside chat at the Barclays Global Consumer Staples Conference on September 5, 2024. The discussion, featuring Chairman and CEO Jeff Harmening and Group President of North America Retail Dana McNabb, is scheduled from 12:45 PM to 1:30 PM ET.
Investors and interested parties can access a live webcast of the discussion through the company's investor relations website. Additionally, a replay of the event will be made available for those unable to attend or watch in real-time. This presentation offers an opportunity for stakeholders to gain insights into General Mills' strategies and outlook directly from its leadership team.
Wheaties has unveiled its latest -edition box featuring tennis champion Coco Gauff. At 20 years old, Gauff is the youngest American to win the US Open since Serena Williams in 1999. She currently holds seven WTA singles titles and is ranked #2 in women's singles globally.
Gauff's box debut comes after sports icon Billie Jean King's feature earlier this year. The two will appear together at the USTA Billie Jean King National Tennis Center during US Open Fan Week on August 20, 2024, where King will symbolically pass the Wheaties Champion torch to Gauff.
The -edition Coco Gauff Wheaties box will be available at major retailers for $6.19. Wheaties is also introducing a new Wheaties Protein cereal with over 20g of protein per serving, available nationwide in Honey Pecan and Maple Almond flavors.
General Mills (NYSE: GIS) has appointed Asheesh Saksena as the new Chief Strategy & Growth Officer, effective Aug. 26, 2024. Saksena will report to CEO Jeff Harmening, join the Senior Leadership Team, and oversee the company's strategic planning and long-term growth initiatives. He succeeds Dana McNabb, who was previously appointed Group President, North America Retail.
Saksena brings extensive experience in driving growth across various industries. His most recent role was Chief Growth Officer at Gap, Inc., where he was responsible for operations, technology, and growth strategies. He has also held leadership positions at Best Buy, Cox Communications, and Time Warner Cable. Saksena holds a Bachelor's degree in mechanical engineering and an MBA from Indian institutions.
Box Tops for Education and John Legend are collaborating on the Champion Legendary Teachers campaign to support educators and earn cash for schools. The initiative encourages families to use the Box Tops app when buying participating products to easily contribute to their schools. Legend, inspired by teachers who influenced his career, helped award $30,000 to Westport Heights Elementary School in Los Angeles for an outdoor learning space.
Box Tops is also supporting nine additional schools with $30,000 each, totaling $300,000. The campaign features Legend in short videos demonstrating how simple it is for busy parents to support schools through the app. Box Tops has introduced a new Connected Accounts feature, which has led to a 48% increase in earnings for schools without the need for receipt scanning.
General Mills (NYSE: GIS) reported its fiscal 2024 fourth-quarter and full-year results. Full-year net sales decreased by 1% to $19.9 billion, while net sales for Q4 were down 6% to $4.7 billion. Adjusted operating profit for the year increased by 4% in constant currency, while Q4 saw a 10% decline. Diluted EPS for the year was $4.31, unchanged from the prior year; adjusted diluted EPS grew by 6% to $4.52. Q4 diluted EPS fell 5% to $0.98, with an adjusted dip of 10% to $1.01.
The board declared a quarterly dividend increase to $0.60 per share, marking a 2% rise. For fiscal 2025, General Mills aims to maintain organic net sales growth between flat and +1%, with adjusted operating profit expected to range from flat to a 2% decline. The company will continue to focus on cost-saving measures and innovation to drive future growth.
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