Nestle Sales Volumes Fall Again as North America Slows Down [BNN Bloomberg (Canada)]
NESTLE S.A S/ADR (NSRGY)
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Source: BNN Bloomberg
Sales rose 1.4% in the period, the Swiss company said in a statement on Thursday, less than the 2.9% estimate of analysts. Its real internal growth — a measure of volume — was negative, while prices increased at a slower pace. Consumer goods groups like Nestle and Unilever Plc have been trying to win back market share with their brand name products after a period of soaring inflation drove overstretched consumers to buy cheaper store brands. Earlier this week, results from Danone and Reckitt Benckiser Group Plc had hinted that shoppers were returning to big brands. Chief Executive Officer Mark Schneider has said that in 2024 Nestle is prioritizing growth led by volume and mix — shoppers switching to pricier formats — boosted with increased marketing and innovation. Nestle confirmed its outlook for organic sales growth of around 4% and a moderate increase in the underlying trading operating profit margin this year. ©2024 Bloomberg L.P.
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