Deals
Nestle Outlook for Weakest Sales in 20 Years Gives Loeb Ammo
- CEO may expand restructuring plan, aims to sell U.S. chocolate
- Danone also reports sales barely grew in second quarter
How Nestle Can Find Its Sweet Spot
This article is for subscribers only.
Nestle SA warned that sales growth this year will be the weakest in at least two decades, giving activist investor Dan Loeb ammunition for his campaign to overhaul the world’s largest food company.
Organic revenue growth will be at the lower half of its 2 percent to 4 percent forecast, the maker of Nespresso capsules and Perrier bottled water said Thursday. Chief Executive Officer Mark Schneider said Nestle may expand restructuring plans and aims to sell its U.S. chocolate business this year.