Swiss giant Nestle hit by slowing sales, unlike rivals Unilever and Danone who reported a surge [Fortune]
Unilever PLC (UL)
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Source: Fortune
Sales rose 1.4% in the period on an organic basis, the Swiss company said Thursday, about half the estimate of analysts. Its real internal growth rate — a key measure of volumes — fell by a greater-than-expected 2%, although the company predicted a rebound in the second quarter. Consumer goods groups like Nestle and Unilever Plc have been trying to win back market share with brand name products after soaring inflation drove overstretched consumers to cheaper store brands. Unilever's results on Thursday, like Danone's and Reckitt Benckiser Group Plc's earlier in the week, suggest that shoppers are starting to move back to big brands. Nestle's figures, however, indicate the Swiss giant may be an outlier from this trend. Nestle shares fell as much as 4.8% in early Swiss trading, the biggest decline in two months. Frozen Pizza Soft consumer demand and fierce price competition in the US hit frozen food, including pizza, and organic sales contracted by 2.5% in North America overa
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