LONDON—Nestle reported slightly better-than-expected first-quarter sales on Tuesday, as the world’s biggest packaged food company increased prices to offset weak sales volumes. The Swiss company, which makes KitKat chocolate bars, Nescafe coffee, and Maggi stock cubes, said sales rose 5.6 percent to 23.5 billion Swiss francs ($26.48 billion) in the quarter ended March 31, beating…
Nestle Plans Price Hikes After Costs Eat Into Profits
February 16, 2023
admin
Business & MarketsCompanieseconomic policieseconomyEuropeGold and CommoditiesinflationMarketsNestleresultsRussia-Ukraine WarstocksWorld
0 Comment
ZURICH/LONDON—The world’s biggest food group Nestle will lift prices again this year, Chief Executive Mark Schneider said on Thursday, after more costly ingredients contributed to making its 2022 profit miss market forecasts. Rivals have said they anticipate a more positive pricing outlook for shoppers in 2023. But Schneider said further rises were necessary to offset…
Food Policy Prof Predicts Higher Prices for Frozen Food Once Nestlé Ends Production of Frozen Meals, Pizza
February 7, 2023
admin
Canadadelissio pizzafood pricesfrozen foodsinflationlean cuisineNestlepulling products off shelvesWorld
0 Comment
Nestlé Canada’s decision to remove popular varieties of frozen pizza and meals from Canadian shelves in the next six months will leave the country’s frozen food aisles “in trouble” and with less competition, meaning higher prices for consumers, says Sylvain Charlebois, a.k.a. “The Food Professor.” “The freezer aisle is very busy these days, as people…
Nestle to Hike Food Prices Further in 2023, CEO Says
February 6, 2023
admin
Business & MarketsCompanieseconomic policieseconomyEuropeinflationInternationalMarketsNestlepricesWorld
0 Comment
Nestle will have to raise prices of its food products further this year to offset higher production costs that it has yet to fully pass on to consumers, Chief Executive Mark Schneider told a German newspaper. The increases will not be as steep as they were in 2022, but “we have some catching up to…
Lean Cuisine, Delissio Pizza to Disappear From Canadian Store Shelves in Next 6 Months: Nestlé
Some popular varieties of frozen pizza and meals will vanish from Canadian shelves in the next six months, as Nestlé Canada decides to change its strategy and focus more on other categories. The product lines affected include Delissio, Stouffer’s, Lean Cuisine, and Life Cuisine, according to a Feb. 1 news release issued by Nestlé Canada,…
Nestle to Launch New Ukraine Facility in Rare War-Time Investment
KYIV—Nestle will invest 40 million Swiss francs ($42.88 million) to launch a new production facility in western Ukraine, the company said on Monday. Nestle is one of very few international companies to announce new investments in Ukraine since Russia invaded the country in February 2022. “This is an important move for Nestlé, taken in a…
Consumer Giants Are Winners as Shoppers Swallow Price Hikes
ZURICH/LONDON—Nestle and Procter & Gamble, the world’s two biggest consumer firms, reported better-than-expected sales on Wednesday, as shoppers continued to pay more for goods like Nescafe coffee and Gillette razors despite record inflation. Nestle, which also makes Cheerios cereal and KitKat chocolate bars, reported better-than-expected sales results, successfully passing higher costs on to shoppers as…
Nestle CEO Does Not See ‘Significant’ Baby Formula Shortages Outside US
May 30, 2022
admin
BabyBusiness & EconomyCEOcommoditiesCompanieseconomyEuropeformulaMarketsNestleshortagesUSUS NewsWorld
0 Comment
ZURICH—Nestle does not expect “significant infant formula shortages” in other markets the Swiss food maker serves outside the United States, Chief Executive Mark Schneider said in an interview Monday. “This was very much a domestic situation caused by the outage of a large facility in the U.S.,” Schneider said, after a shortage hit the U.S….
Nestlé Says Further Price Hikes Lie Ahead Amid Rising Cost Inflation
Nestlé SA predicted on April 21 that more price increases will be required in the future amid rising inflation levels. The Swiss multinational food and drink company increased pricing for its products by 5.2 percent in the first quarter of 2022, helping to produce organic sales growth of 7.6 percent and beating analysts’ expectations of 5.1 percent. “In…
Ohio’s Ukrainian Community Calling for Boycott of Nestle Products
The resolve of the Ukrainian community in northeast Ohio is growing and is now calling for a boycott against Nestle, which continues to do business in Russia selling essential foods there. On its website, Nestle says it is not making a profit from the foodstuffs that include baby food and medical-related nutritional food. About 30 members of…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`