Tag: $Nestle

Nestle reported its weakest annual organic sales growth in more than a quarter of a century, hit by a consumer pullback, underscoring the challenges facing Chief Executive Laurent Freixe’s bid to turn around the packaged-food giant.

Nestle is launching protein shots in the United States which it says help suppress appetite for people looking to shed pounds, the latest effort by the world’s biggest packaged food maker to tap the booming market for weight-loss products.

Nestle is revamping senior leadership and its operating structure, the food giant said on Thursday, as it cut its full-year sales outlook following weaker than expected nine-month underlying sales growth.

 Nestle CEO Mark Schneider was ousted in a sudden move by the world’s biggest foodmaker as a result of the group’s underperformance, three sources familiar with the matter told Reuters on Friday.

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.

Nestle will market a new, $5 line of frozen pizzas and protein-enriched pastas in the United States which it says it designed specifically for people taking drugs such as Wegovy or Ozempic for weight loss.

Nestle, the world’s biggest food seller, and its French rival Danone have both reported drops in their sales over 2023, caused by cost conscious customers balking at higher prices.

Oct 6 (Reuters) – Nestle (NESN.S) shares were under pressure on Friday as investors weighed the potential impact of Novo Nordisk’s (NOVOb.CO) blockbuster weight-losing drug Wegovy and how it could reduce spending on food.

LONDON, July 27 (Reuters) – Nestle (NESN.S) improved its full-year organic sales outlook and reported better-than-expected first-half organic sales, as the world’s biggest packaged food company again raised prices to cope with higher input costs.