General Mills Fights Consumer Spending Squeeze

General Mills reaffirmed its annual sales and profit forecast on March 18, 2026, following a reduction in projections last month. The company is facing challenges as high inflation prompts consumers to favor less expensive private-label brands over established products. This shift in consumer spending directly affects demand for General Mills' pantry staples and snacks.

Despite these headwinds, the Cheerios maker is holding firm to its annual targets. These include an adjusted profit decline of 16% to 20% and organic sales falling by 1.5% to 2%. Third-quarter sales reached $4.44 billion, narrowly surpassing analysts' expectations of $4.42 billion.