Common Mills, Inc. (NYSE:GIS) dbAccess International Shopper Convention Name Transcript June 5, 2025 4:00 AM ET
Firm Contributors
Jeffrey L. Harmening – Chairman & CEO
Convention Name Contributors
Stephen Robert R. Powers – Deutsche Financial institution AG, Analysis Division
Stephen Robert R. Powers
Okay. Welcome, everyone. Thanks for becoming a member of us. For our subsequent session, I am thrilled to welcome again Common Mills to the convention and equally thrilled to welcome again Jeff Harmening, Chairman and Chief Government Officer. So Jeff, thanks for being with us.
Jeffrey L. Harmening
Nice to be right here. Thanks.
Stephen Robert R. Powers
I am going to allow you to pour your water.
Jeffrey L. Harmening
Sure, pour my water right here, sure, that is proper.
Query-and-Reply Session
Stephen Robert R. Powers
I assume we will use the whole thing of our time for Q&A. So I am going to simply bounce proper in. And I am going to begin, Jeff, with the way in which that I’ve began with quite a lot of groups right here. It is simply clearly been a really eventful begin to ’25, a number of totally different cross currents and pressures on the buyer. So perhaps simply begin there, discuss your evaluation of client well being broadly and the way these dynamics have impacted your classes particularly.
Jeffrey L. Harmening
Sure, certain. Thanks, and I respect everybody being right here in particular person and people listening on-line. I am going to begin with the U.S. as a result of 85% of our enterprise is within the U.S., after which we are able to develop afterward from there. Nevertheless it has been an eventful begin to our 2025 12 months. And the U.S., client sentiment is basically robust proper now. The College of Michigan places out a ballot. And what it could say is that it is the second lowest studying they’ve ever had. And the bottom studying was proper after the pandemic started in 2020. So client sentiment is hard. The U.S. client is pressured financially. They’re nonetheless shopping for, however they’re stretched. You possibly can see U.S. client debt has risen. And
