General Mills Expects Value-Seeking Consumers to Squeeze Profit

Cheerios maker General Mills Inc. offered an outlook for the fiscal year ahead that fell below investors’ expectations, projecting a lower adjusted profit as cautious consumers continue limiting their grocery expenses.

The Minneapolis-based company, which makes Progresso soup, Lucky Charms cereal and Blue Buffalo pet food, anticipates that the operating environment will continue to be volatile as value-seeking consumers feel pressured by tariffs, conflicts around the world and shifting regulations, said Chief Executive Officer Jeff Harmening in a statement.

“We’re not counting on a significant rebound in categories as we work our way through the year,” he added during ...