Zurich (Reuters)-Food giant Nestlé confirms organic sales will increase by more than 3.6% this year after strong demand for coffee, dairy and pet care products boosted growth in the first quarter ..
The world’s largest food group has successfully survived the COVID-19 pandemic, as long as consumers trapped in their homes buy more packaged food for themselves and their pets.
It has also expanded its e-commerce and its health sciences portfolio as consumers buy online and worry about their health.
KitKat chocolate bar and Nescafé instant coffee makers said in a statement Thursday that intrinsic sales were up 7.7% from 4.3% in the year-ago quarter. This exceeded the 3.3% organic growth forecast in the consensus https://www.nestle.com/investors/analysts-consensus compiled by the company.
“Retail sales showed solid growth and out-of-home channels showed signs of improvement,” said Mark Schneider, CEO, in a statement. This year’s guidance and sustained mid-single digits Confirm the interim outlook for organic growth. “
According to Nestlé, organic growth was 7.2% in the Americas, 4.4% in Europe and 9.1% in Asia. Asia was in a negative territory a year ago because the pandemic first occurred.
By category, pet care increased by 8.7%, powdered and liquid beverages containing coffee increased by 9.9%, and dairy products increased by 15.7%. Nutrition and health sciences were reduced by 0.5% and reduced by nutrition.
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Coffee and dairy products help Nestlé exceed first-quarter expectations By Reuters
https://www.investing.com/news/stock-market-news/coffee-and-dairy-help-nestle-beat-expectations-in-q1-2481762 Coffee and dairy products help Nestlé exceed first-quarter expectations By Reuters