Coffee Sipping Big Board Stocks

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General Mills shares fall after earnings miss

MARKETWATCH 7:23 AM ET 06/25/14

Symbol Last Price Change
GIS 53.7 0 (0%)
QUOTES AS OF 04:00:25 PM ET 06/24/2014

NEW YORK (MarketWatch) -- General Mills Inc.(GIS) said Wednesday its fiscal fourth-quarter profit rose to $404.6 million, or 65 cents a share, from $366.3 million, or 55 cents a share, a year earlier. Adjusted per-share earnings rose to 67 cents from 54 cents. Quarterly net sales fell 2.9% to $4.28 billion from $4.41 billion a year earlier. Analysts polled by FactSet had expected fourth-quarter earnings of 72 cents on sales of $4.42 billion. "Our Number One objective in the new fiscal year is to accelerate our topline growth," said Chief Executive Ken Powell. The food company said it expects fiscal 2015 net sales to grow at a "mid single-digit rate in constant currency" and adjusted per-share earnings to increase by a "high single digit rate." General Mills(GIS) shares fell 3.2% premarket.

-Saumya Vaishampayan; 415-439-6400; [e-mail]

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06-25-140723ET
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