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Market: NYSE
Sector: Food Retailers & Wholesalers
EPIC: GIS
Latest Price: 39.85  (-0.20% Descending)
52-week High: 41.05
52-week Low: 34.95
Market Cap: 25,641.80M
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General Mills
www.generalmills.com

General Mills is a global manufacturer and marketer of consumer foods sold through retail stores.

Full General Mills profile here
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General Mills on track to achieve sales and earnings forecasts for 2011

8th Sep 2010, 5:05 pm
General Mills on track to achieve sales and earnings forecasts for 2011

Global food manufacturer General Mills (NYSE: GIS), responsible for popular cereals such as Cheerios and Lucky Charms, has said today that it is on track to achieve its sales and earnings targets for the fiscal year ending May 2011, re-affirming its earnings per share forecast of between $2.46 to $2.48.

The world's sixth largest food company also said it expects first-quarter results for 2011, which are due on September 22, to be in line with company expectations. General Mills did not call for earnings per share growth for Q1 on top of last year's strong first quarter increase.

Despite the fact that economic activity and consumer confidence remain relatively weak, General Mills' global business is resilient and set to show earnings and sales growth in 2011, said chairman and CEO Ken Powell.

The company was up 1.25% on the back of the news, trading at $36.40 as of 12:00pm ET on the New York Stock Exchange.

General Mills is a global manufacturer and marketer of consumer foods sold through retail stores. The company also supplies food products to the foodservice and commercial baking industries.

It manufactures its products in 15 countries and markets them in more than 100 countries. Customers include grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains, restaurants and convenience stores.

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