General Mills Lowers Profit Outlook on Price Cuts
- Promotions helped drive sales in categories including pet food
- Company aims to bring value to shoppers, boost growth
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Cheerios maker General Mills Inc. lowered its profit outlook for fiscal 2025 as it moves to cut prices.
General Mills Chief Executive Officer Jeff Harmening said in the earnings statement that the company made investments “to bring consumers greater value.” Even as it also lowered the company’s profit outlook, Harmening said the move positions it for “sustainable growth in fiscal 2026 and beyond.” Margins improved, General Mills said, but noted that cost inflation continues to be a factor.