Nestlé “spring loaded” for underlying sales rebound after US-induced decline [Yahoo! Finance]
Diageo plc (DEO)
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Source: Yahoo! Finance
The key RIG metric – which strips out the effect of pricing from organic growth to reflect changes in volume – fell 2% in Nestlé's opening quarter of 2024. The company pointed to “weakness” in frozen pizza and snacks in the US as low-income consumers turned to private label. Speaking on her first results call today (25 April) since becoming CFO on 1 March, Anna Manz said Nestlé encountered “intense price competition” in those categories during the quarter, while retailers also cut inventories. Nestlé's 2023 exit from the frozen meals segment in Canada also played a part in the RIG downturn, Manz said, describing the metric's decline as “atypical”. She added that the first quarter was an “interruption to the steady progress Nestlé has been making on improving RIG”. However, bar the final three months of 2023, the gauge had been negative for five straight quarters. “The important message here is that this is a temporary issue,” Manz said. “The contributing factors are already c
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