USA: General Mills lowers Q4 earnings expectations
Minneapolis-based cereals giant General Mills revealed yesterday [Thursday] that unit volume trends have fallen below expectations through the first two months of the company's fiscal 2002 Q4. Plans had called for a low single-digit rate of unit volume growth in the Q4, but the company now estimates volumes will fall about 4% below the prior year's results on a comparable basis. Q4 earnings per share before unusual items are now expected to be about 25 cents. Fiscal 2002 earnings per share before unusual items therefore are expected to total approximately US$1.70.
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