General Mills (NYSE: GIS) outlined progress on its six-year Accelerate strategy at the 2026 CAGNY Conference and lowered its fiscal 2026 outlook amid a tougher consumer environment.

CEO Jeff Harmening said the company has reshaped nearly one-third of its portfolio, strengthened digital capabilities, and improved cost efficiency. Management is focusing on “remarkability” across product, packaging, brand communication and omnichannel execution to restore organic sales growth.

Key priorities include:

* Investing behind eight billion-dollar brands and enhancing consumer-centric innovation, with a targeted 25% increase in net sales from new products in fiscal 2026.
* Leveraging digital and technology capabilities in supply chain, marketing and revenue management.
* Maintaining disciplined capital allocation, having returned more than $14 billion to shareholders since fiscal 2019.

Updated fiscal 2026 guidance:

* Organic net sales now expected to decline 1.5% to 2% (previously down 1% to up 1%).
* Adjusted operating profit and adjusted diluted EPS expected to decline 16% to 20% in constant currency (previously down 10% to 15%).
* Free cash flow conversion still expected at least 95% of adjusted after-tax earnings.

Management cited weak consumer sentiment, heightened uncertainty and category volatility as key headwinds affecting volume recovery.
Business Wire