General Mills, Inc. reports developments across a global packaged-food portfolio that includes cereal, snacks, convenient meals, dough, baking products, ingredients, pet food and superpremium ice cream. Recurring updates cover brands such as Cheerios, Nature Valley, Old El Paso, Pillsbury, Betty Crocker, Blue Buffalo, Häagen-Dazs, Gushers, Fruit by the Foot, Fruit Roll-Ups, Lucky Charms and Trix.
Company news also includes quarterly financial results, outlook commentary, product launches, packaging and ingredient initiatives, portfolio actions, pet-food marketing, foodservice and international activity, leadership and board changes, and global responsibility reporting tied to food, agriculture, environmental and community programs.
The 2021 Dr. Martin Luther King, Jr. Holiday Breakfast, hosted by General Mills and UNCF, will feature Dr. Bernice King and Ambassador Andrew Young discussing Dr. King's legacy and social justice issues. The event, themed 'Our Rising Voices: A Call for Bold Social Action,' takes place on January 18, 2021, at 9 a.m. CST. Proceeds will support UNCF scholarships for local students. This annual event, running since 1991, reiterates the importance of education and social change, reflecting on Dr. King's teachings and the urgent need for community action.
Cheerios has remade its iconic 1999 holiday ad due to heightened consumer engagement on TikTok. The new ad emphasizes the importance of connecting with loved ones during a challenging holiday season. Originally featuring a grandmother and granddaughter, the updated version adapts to 2020 realities while maintaining the emotional essence. The remaking decision was influenced by heartfelt TikTok responses, and the production adhered to COVID-19 safety guidelines. General Mills, the parent company, reported $17.6 billion in net sales for fiscal 2020.
General Mills (GIS) reported Q2 results for the fiscal year ending November 29, 2020, with net sales increasing 7% to $4.7 billion. Organic net sales also rose 7%, supported by market share gains due to increased at-home food consumption amid the pandemic. The company saw a 19% increase in net earnings to $688 million and diluted EPS grew 17% to $1.11. Adjusted operating profit increased 6% in constant currency, with a margin of 18.3%. Despite strong performance, General Mills refrained from providing a full-year outlook given the uncertain impact of COVID-19.
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General Mills (NYSE: GIS) has been awarded a double ‘A’ score by the environmental impact nonprofit CDP for its leadership in sustainability, specifically in addressing climate change and water security. This recognition places General Mills among a select group of North American Food & Beverage companies achieving this score. The company aims to reduce greenhouse gas emissions by 30% and promote regenerative agriculture on one million acres by 2030. CDP's evaluation process is recognized as a gold standard in environmental transparency.
Chex cereal has announced a holiday collaboration with Chrissy Teigen and John Legend, introducing new festive recipes aimed at enhancing holiday celebrations in 2020. The campaign features two recipes: Legendary Muddy Buddies and Sugar and Spice Chex Holiday Mix, designed to inspire families to create festive snacks together. With more families staying home, Chex emphasizes its versatile and fun recipes to foster togetherness during the holidays. The collaboration is highlighted on Chex cereal boxes and through videos on Chex.com.
General Mills (NYSE: GIS) will release its fiscal 2021 second-quarter results on December 17, 2020. A press release, management remarks, and slides will be available that morning, followed by a webcast Q&A at 8:00 a.m. CT. General Mills reported fiscal 2020 net sales of $17.6 billion, along with $1.0 billion in non-consolidated joint venture sales. The company aims to produce food that the world loves, featuring notable brands like Cheerios, Häagen-Dazs, and Betty Crocker.
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The Board of Directors of General Mills has declared a quarterly dividend of $0.51 per share, marking a 4% increase from last year's $0.49. This dividend is payable on February 1, 2021, to shareholders on record as of January 8, 2021. General Mills has maintained uninterrupted dividend payments for 122 years. In fiscal 2020, the company reported net sales of $17.6 billion, along with $1.0 billion in net sales from non-consolidated joint ventures.
General Mills launched the Old El Paso Tortilla Pockets in Australia, which sparked an international tennis event called the #MessFreeChallenge. Initiated by Nick Kyrgios, the challenge promotes fun while raising awareness for hunger relief. Tennis stars from around the world, including Genie Bouchard and Sofia Kenin, participated, showcasing their skills with Old El Paso products. The campaign resulted in donations of 100,000 meals to food banks. During the pandemic, General Mills committed $9 million towards hunger relief, including $5 million in food donations to Feeding America.