Nestle sales slump on weak North America demand for frozen food [Yahoo! Finance]
NESTLE S.A S/ADR (NSRGY)
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Source: Yahoo! Finance
Shares in the group fell following the publication of its earnings, which come as Nestle has recently faced scrutiny over the quality of its Perrier water and sugar levels in baby food sold in poorer countries. Total sales fell 5.9 percent to 22.1 billion francs ($24.2 billion) in the first three months of the year at the group, whose brands range from Purina pet food to Nespresso coffee, KitKat chocolate bars and Gerber baby products. Analysts surveyed by Swiss news agency AWP had expected sales totalling 22.3 billion francs. Its organic sales growth -- which excludes currency fluctuations and acquisitions -- reached 1.4 percent. The group's real internal growth (RIG), which takes into account both sales volume and product value, slumped two percent -- deeper than the 0.7 percent fall expected by analysts. The company said in a statement that sales performance was "impacted by soft consumer demand, particularly in North America, and the temporary supply constraints for vit
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