Swiss food giant Nestle reported slimmer sales than expected in the first quarter on Thursday, weighed down by weak demand for frozen pizza and snacks in North America.
giant Nestle reported slimmer sales than expected in the first quarter on Thursday, weighed down by weak demand for frozen pizza and snacks in North America.
The group's real internal growth , which takes into account both sales volume and product value, slumped two percent -- deeper than the 0.7 percent fall expected by analysts.The company said in a statement that sales performance was"impacted by soft consumer demand, particularly in North America, and the temporary supply constraints for vitamins, minerals and supplements.
Nestle's first-quarter performance stands in contrast to those of rivals such as French group Danone, which reported rising sales volume last week.Nestle has also scrambled to ease any concerns over its Perrier brand after France's food safety watchdog recommended stricter monitoring of sites where Nestle extracts mineral water following the discovery of traces of"faecal" contamination.
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