General Mills expects input-cost inflation to stay near 4% in fiscal 2027’s first three quarters, then rise to roughly 6% in Q4, CFO Kofi Bruce said. Executives said dollar-share trends improved in most North American categories, though the business has not returned to growth.
Management said it aims to deliver $750 million in savings in fiscal 2027 and $3 billion cumulatively by fiscal 2030, split between $2 billion in HMM savings and $1 billion in transformation. Bruce said savings should roughly offset inflation for the year; gross margins are expected to be roughly flat excluding the 53rd-week comparison.
General Mills said cereal and soup share declines narrowed to 0.1 point each in Q1, from 0.9 and 0.4 points a year earlier. Totino’s declines were cut in half, but fruit snacks remained a concern despite category growth of about 13%. In pet, dry dog food was weak, especially Wilderness, while cat food and treats improved.
