General Mills lowered its 2026 organic net sales forecast to a 1.5%-2% decline, citing weaker consumer demand and ongoing market uncertainty. The guidance reduction triggered a more than 7% drop in the company’s share price.

Management pointed to cautious consumer spending on staple categories and slowing pantry restocking as key drivers of the sales shortfall. Cost pressures and reduced promotional activity further weighed on revenue expectations.

CEO Jeff Harmening emphasized that GLP-1 weight-loss drugs are reshaping eating habits, nudging consumers toward smaller meals and higher-nutrient products. General Mills plans to accelerate innovation in portion-controlled and health-focused lines to capture this emerging trend.