General Mills (GIS) executives discussed plans to fuel growth in the U.S. and around the world in the company's new fiscal year at a meeting with investors today at the New York Stock Exchange.
General Mills expects fiscal 2013 to be another year of good growth, said Powell, with sales and profit increases on its base business and contributions from newly acquired operations, including Yoplait International, Parampara in India, and Food Should Taste Good in the United States.
General Mills noted that it will continue its focus on Holistic Margin Management or HMM. Over the last three years, supply chain HMM projects alone generated $1 billion of cost savings, and Powell said the company expects to generate an additional $3 billion of HMM productivity between now and the year 2020.
In fiscal 2013, General Mills plans to open 50 additional Häagen-Dazs shops in China. By the end of 2013, General Mills will operate more than 250 shops there.
The company said it plans to reach $900 million in sales for its wholly owned businesses in China by 2015.
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