India, July 1 -- Shares of General Mills, Inc. were gaining around 7 percent in the early morning trading on the NYSE, after the branded food major reported Wednesday higher fourth-quarter adjusted earnings and net sales, and announced a $3 billion cost savings plan by fiscal 2030.
Meanwhile, including one-time costs, the company slipped to a hefty loss in the quarter, and warned on weak adjusted earnings in fiscal 2027. General Mills added that its top priority is to restore profitable organic net sales growth over the long term.
Chairman and Chief Executive Officer Jeff Harmening stated, "With our price investment work behind us, our focus in fiscal 2027 is to improve our topline growth by driving a step change in the remarkability of o...