Consumer
Nestle Sales Rise on Price Hikes for Coffee, Cocoa Products
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Nestle SA’s sales rose as the maker of Nespresso and KitKat candy bars increased prices to counter soaring costs for coffee and cocoa.
Revenue grew 2.8% on an organic basis in the first quarter, the Swiss foodmaker said Thursday, above the 2.6% average estimate of analysts. The bulk of the increase came from price hikes, while its real internal growth — a measure of volumes — rose at a slower pace.