Nestle Beats First Quarter Sales Forecasts Amid China Slump
Nestle beat first-quarter sales forecasts with 3.5% organic growth. The firm maintained its annual outlook despite a 10.6% sales decline in the China market.
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NESTLE SA-REG reported a 3.5% rise in first-quarter organic sales, beating the 2.4% analyst consensus. Shares rose 6% on Thursday, the largest single-day gain since October 16. Resilient volume growth in coffee and pet food offsets a 10.6% sales slump in China.
CEO Philipp Navratil said the conflict in Iran had minimal impact on global operations beyond shifting consumer habits. Higher fuel prices drove shoppers toward home-cooked meals and local stores, boosting snack and food sales. Nestle is positioned for this shift because of its distribution network in emerging markets.
