Consumer
Nestle Cuts Sales Guidance Amid Struggle to Win Back Shoppers
- First half sales up 2.1%, missing analyst expectations of 2.5%
- Co. has seen inflation push some customers to cheaper brands
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Nestle SA lowered its sales outlook for the year as consumers balk at price increases on branded food, water and pet-care products that had driven revenue growth during a post-pandemic bout of inflation.
The Swiss company said it now expects sales to grow at least 3%, lower than the roughly 4% previously targeted. The world’s biggest food company has struggled to win back market share after shoppers switched to cheaper alternatives.