Nestle posted higher-than-expected sales growth in the first three months of the...
ZURICH - Nestle posted higher-than-expected sales growth in the first three months of the year after good momentum in the United States and China, putting it on track to meet its goal of more than 3 percent organic growth this year.
Nestle and its peers are trying to buck a consumer trend toward fresh, locally produced foods, which has hit sales of packaged goods, by focusing on fast-growing categories like infant formula and coffee. Nestle also said efforts to gear its portfolio more toward health and wellness, and fix or dispose of underperforming brands, were on track. It expects strategic reviews of its skin health and Herta meats businesses to be completed by mid- and late-2019 respectively.Sales volume growth held up well in the quarter and pricing improved, thanks to price increases in Brazil and the United States, Nestle said.
Nestle shares, which have already gained over 19 percent this year, were indicated to open 1.4 percent higher, according to Julius Baer pre-market data.
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