Nestle Sales Growth: Nestle Misses Nine-Month Sales Estimates

On Thursday Nestle posted lower-than-expected nine-month sales growth .

But the food giant said it expects volumes to turn positive again by the end of the year. The packaged goods industry has hit consumers with higher prices over the last two years, which it’s blamed on higher input costs. But that put shoppers off buying Nestle products this year.

Nestle – which makes KitKats and Nescafe coffee – said organic sales rose 7.8% in the nine months ended September. That was below analyst forecasts. One leading analyst called Nestle’s results “slightly underwhelming as the market expected more on volumes.” However, Nestle confirmed its full-year outlook of organic sales growth between 7% and 8%.

Investors and analysts have raised concerns that companies are pushing price rises too far, particularly during a cost of living crisis. They have recommended they focus more on marketing and innovation.

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