General Mills Reaffirms 2016 Guidance, Sales To Decline At A Low Single-Digit Rate

General Mills, Inc. GIS on Tuesday reaffirmed its key financial targets for its fiscal year ending May 29, 2016. General Mills continues to expect total net sales in a constant currency to decline at a low single-digit rate from 2015's level. The company noted that 2015 included a 53rd week and its 2016 guidance also reflects the impact of the Green Giant divestiture. General Mills added that it continues to expect its total segment operating profit in constant currency to "essentially match" 2015's performance. Fiscal 2016 adjusted diluted earnings per share are expected to grow at a low single-digit rate in constant currency from the base of $2.86 per share it earned in fiscal 2015. Shares of General Mills showed no trades early Tuesday morning.