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Nestle Sales Miss Estimates on Developing Market Slowdown

Nestle SA, the world’s biggest food company, reported slowing sales growth that missed analysts estimates as demand stumbled in emerging markets and blamed disruptions including floods in the Philippines.

Nestle shares fell as much as 3 percent, the steepest decline since April 23. Nine-month revenue gained 6.1 percent excluding acquisitions, divestments and currency swings, the Vevey, Switzerland-based company said today. The average estimate of 12 analysts was 6.3 percent. It was the first time since 2009 that Nestle reported organic sales that fell short of expectations compiled by Bloomberg.