LONDON: Food and drink giant Nestle has revealed another fall in sales volumes as shoppers were put off by higher prices, reported PA Media/dpa.
The KitKat and Cheerios maker said it increased its pricing by 8.4 per cent for the first nine months of 2023 amid continued food inflation.It said the increases helped drive organic growth of 7.8 per cent over the period, but this came as the volume of products bought by customers fell by 0.6 per cent as they pulled back following the price increases.
SPONSORED CONTENT Daily Express members: Enjoy 1 for 1 signature cocktails and more at Hyatt Centric Kota Kinabalu Kota Kinabalu: DAILY EXPRESS is partnering with Hyatt Centric Kota Kinabalu to offer an exclusive deal for our members. Read more On Thursday, Nestle chief executive officer Mark Schneider said: “Growth was driven by pricing as we continued to navigate historic inflation levels.”
It added that its Purina PetCare business particularly drove growth, amid strong performance from Felix, Gourmet, and Purina One. “We are seeing the benefits of our portfolio optimisation initiatives and increasing marketing investments behind our billionaire brands.
Italia Ultime Notizie, Italia Notizie
Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.
Nestle’s sales volume falls amid price hike, outlook unchangedRevenue hit US$76.6 billion, 0.4% lower year-on-year due to the strong Swiss currency.
Leggi di più »
UK police charge Thunberg with public order offence after London protestThe 20-year-old was released on bail and is due to appear in court on Nov 15.
Leggi di più »
London Stock Exchange says preparing to resume trading normally todayLONDON: The London Stock Exchange (LSE) said it is preparing to resume normal trading today (Oct 20) after an incident disrupted activity earlier yest...
Leggi di più »
Uptown Lam Mee is now open in Bandar Utama's Ming Tien Food CourtPETALING JAYA, Oct 20 — Thanks to a tip from Alex Lye, a Malay Mail reader, we found Uptown Lam Mee. After they shut their shop in Damansara Uptown more than a year ago, the...
Leggi di più »
September inflation down to 1.9%Drop caused by slower increase in restaurants & hotels, food & non-alcoholic beverages, says the statistics department.
Leggi di più »
September inflation down to 1.9%Drop caused by slower increase in restaurants & hotels, food & non-alcoholic beverages, says the statistics department.
Leggi di più »