MINNEAPOLIS – General Mills, Inc. has entered a period of uncertainty. As markets around the world reopen, company management waits to see how consumer purchasing patterns will reset.

“We expect that consumer demand for food at home in fiscal ’22 will decline from elevated fiscal ’21 levels as more vaccines are distributed, offices and schools reopen, and the broader economic recovery continues,” said Jeffrey L. Harmening, chairman and chief executive officer, during prepared remarks released June 30 about the company’s fiscal 2021 results. “Conversely, we expect away-from-home food demand to be above last year, but we do not expect either at-home or away-from-home demand to return to pre-pandemic levels. With roughly 85% of our net sales in at-home food occasions, we anticipate these dynamics will result in lower aggregate consumer demand in our categories in fiscal ’22.”

The effect of global markets reopening could…

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