GIS General Mills Inc

By Micah Maidenberg

General Mills Inc. said it expects sales to grow about 3.5% on a comparable basis for its current fiscal year.

The branded food manufacturer reported fiscal third quarter results Wednesday. Through the first three periods of its year, comparable sales were up 8%, it said.

During its fourth quarter, the company expects comparable sales to be offset in part "by a difficult comparison … reflecting the initial pandemic-driven surge in at-home food demand."

General Mills also said it believes its full-year adjusted operating profit margin will be in line with fiscal 2020 levels.

"Better-than-expected first-half adjusted operating profit margin results are now expected to be offset by higher input cost inflation and higher logistics costs in the second half," the company said.

Write to Micah Maidenberg at micah.maidenberg@wsj.com

(END) Dow Jones Newswires

March 24, 2021 07:46 ET (11:46 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.