General Mills reaffirms annual forecasts, shares fall

Shares of Cheerios maker General Mills GIS.N down ~1% at $38.42

Co reaffirms annual sales and profit forecast, after slashing it last month as pressure on consumer spending and stiff competition muted demand for its pantry staples and snacks

Maintains forecasts of annual adjusted profit declining 16% to 20% and organic sales to fall 1.5% to 2%

Posts Q3 adjusted EPS of 64 cents vs. estimate of 73 cents - data compiled by LSEG

Reports Q3 sales of $4.44 billion, compared with analysts' average estimate of $4.42 billion

As of last close, stock down 18% YTD