Nestle posts better than expected first-quarter sales as customers stockpile food
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FRIDAY, JANUARY 27, 2023
Nestle posts better than expected first-quarter sales as customers stockpile food

Global Economy

Reuters
24 April, 2020, 11:45 am
Last modified: 24 April, 2020, 11:45 am

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Nestle posts better than expected first-quarter sales as customers stockpile food

The company also said it was keeping its outlook for the year.

Reuters
24 April, 2020, 11:45 am
Last modified: 24 April, 2020, 11:45 am
 A Nestle logo is pictured on a coffee factory in Orbe, Switzerland May 31, 2018/ Reuters
A Nestle logo is pictured on a coffee factory in Orbe, Switzerland May 31, 2018/ Reuters

Nestle reported a 4.3% rise in organic sales growth for the first quarter, the food giant said on Friday, as consumers filled cupboards with Purina pet food and Poland Spring water to prepare for lockdowns caused by the coronavirus pandemic.

Nestle also said it is launching a 500 million Swiss franc ($511.77 million) program to help its food service suppliers during the coronavirus crisis, by extending payment terms and suspending rental fees for coffee machines.

The company also said it was keeping its outlook for the year.

Analysts on average were expecting a 3.0% increase in first-quarter underlying sales growth, according to company-supplied estimates.

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Nestle / profit

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