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BRIEF-General Mills CEO - We've pulled back too far on investments in some key categories in FY2017
June 28, 2017 / 4:05 PM / 3 months ago

BRIEF-General Mills CEO - We've pulled back too far on investments in some key categories in FY2017

June 28 (Reuters) - General Mills

* CEO - we’ve pulled back too far on investments in some key categories and our overall execution was not up to our normal standards in fy2017

* CEO - Q4 U.S. Meals & baking net sales decreased 1% hurt by declines in pillsbury refrigerated dough

* CFO - “ U.S. Industry trends in last few quarters have been challenging, not planning for a significant turnaround in those trends this year”

* CEO- began to see some improvement in our u.s. Retail sales trends in Q4

* CEO- saw improvement in retail sales trends driven by strong merchandising execution and lower price, expect to drive further improvement over fy 2018

* CEO- Oui yogurt pricing is premium but affordable

* CEO- moderating pace of margin expansion as we focus on topline growth

* CEO- “ missed the mark last year on promotional spending, on soup and refrigerated dough. So in fy18 our goal is to be in the zone on pricing during the key season”

* CEO- “we’re not looking to win on price... But we know we need to be more competitive this year”

* CEO- “ all of our major customers have e-commerce components. ..there are a variety of customers who participate in e-commerce and so it’s not going to be just one winner”

* CEO on Amazon-Whole Foods deal- “we’ve got great relationships with Amazon, and with Whole Foods...we feel like we’re pretty well positioned” Further company coverage:

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