general mills inc (GIS) Key Developments
General Mills, Inc. Reaffirms Earnings Guidance for the Fiscal Year Ending May 31, 2015
May 19 15
General Mills, Inc. reaffirmed earnings guidance 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, restructuring costs, Annie's integration costs, and a discrete tax charge associated with a planned repatriation action) are expected to grow at a low-single-digit rate in constant currency from the base of $2.82 earned in fiscal 2014.
General Mills to Invest $253 Million to Expand Operations in Tennessee
Apr 29 15
General Mills is planning to invest around $253 million to expand its facility in Murfreesboro, in the US state of Tennessee. The move is expected to create 117 new jobs, in addition to the existing 900 roles. Work under the expansion includes increasing production on existing lines, as well as installation of additional production equipment. The Murfreesboro plant currently produces Yoplait yogurt and Big G's toaster strudel line.
General Mills, Inc. Presents at Barclays America Select Franchise Conference 2015, May-19-2015 08:30 AM
Apr 11 15
General Mills, Inc. Presents at Barclays America Select Franchise Conference 2015, May-19-2015 08:30 AM. Venue: Langham Hotel, London, United Kingdom. Speakers: Donal Leo Mulligan, Chief Financial Officer and Executive Vice President, Kendall J. Powell, Chairman and Chief Executive Officer.
General Mills, Inc. Announces Retirement of Hilda Ochoa-Brillembourg to the Board of Directors
Mar 26 15
General Mills, Inc. announced that Hilda Ochoa-Brillembourg has informed the company that she has decided not to stand for re-election at the
company's next annual meeting of shareholders in order to focus her time and attention on other interests. Ms. Ochoa-Brillembourg has served on the board of directors since 2002, and will continue to serve through the remainder of her current term, which concludes in September 2015, on the date of the company's next annual meeting.
General Mills Completes Plan to Cut About 800 Jobs
Mar 18 15
General Mills announced that it has completed a plan to eliminate about 800 positions. General Mills said that the previously announced job cuts, which were mostly in the U.S., were part of a restructuring plan called Project Catalyst that was approved during its fiscal second quarter. The company also has a restructuring plan called Project Century. As part of that plan, General Mills is reducing its refrigerated dough capacity and exiting its Canada and New Albany, Indiana, facilities. The plants support its U.S. retail, international and convenience stores and foodservice supply chains. Exiting the Canadian plant will impact about 100 jobs, while exiting the Indiana facility will affect approximately 400 positions. The actions are anticipated to be completed by the end of fiscal 2018. Project Century also includes the closing of a facility in Methuen, Massachusetts, that would eliminate about 250 positions, and exiting its Lodi, California facility, which would impact about 430 positions. All of those job cuts are expected to be completed by fiscal 2016 end.