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General Mills Lowers Performance Expectations

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Yesterday, General Mills released its performance for the previous quarter. In the three months ending November 26th, General Mills achieved sales of $5.14 billion, a year-on-year decrease of 1.57%, lower than analysts' expectations of $5.35 billion. General Mills stated that it is currently expected that the sales recovery for this fiscal year will slow down due to "more cautious consumer economic prospects" and more intense competition on store shelves. The company currently expects organic sales to decline by 1% to remain stable throughout the fiscal year, compared to previous expectations of a growth of 3% to 4%; After annual adjustment, the expected profit growth range has been reduced to 4% to 5% calculated at a fixed exchange rate, compared to 4% to 6% previously.
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