Nestle: KitKat maker facing activist investor calls to make food healthier April 20, 2023 KitKat and Shreddies maker Nestle is facing calls from a global coalition of investors to set targets to make its food healthier. The group of 26 investors, which is responsible for more than 3 trillion US dollars (£2.64 trillion) of assets, is urging the food giant to ramp up its health performance and play its [...]
Nestle: Cost inflation eats into KitKat maker’s profit as it tumbles 45 per cent to £8.4bn February 16, 2023 KitKat and Nescafe coffee maker Nestle has revealed its net profits tumbled by 45 per cent as cost inflation led the global food and drink giant to hike up the prices of its products. The Switzerland-headquartered company, which owns some of the world’s biggest food brands, said its net profits fell to 9.3 billion Swiss [...]
KitKat maker Nestlé pushes sales outlook higher and mulls sale of allergy business November 29, 2022 Nestlé has boosted its annual sales outlook, ahead of an investor meeting on Tuesday, while announcing it is considering the future of its allergy treatment business. The Kit Kat maker nudged its outlook for organic sales growth to between eight and 8.5 per cent, following a forecast last month of around eight per cent. In [...]
Nestlé has strongest sales growth since 2008 after inflation leads to 7.5 per cent price rises October 19, 2022 Inflation forced Swiss food giant Nestlé into 7.5 per cent price rises, leading to the highest sales growth in 14 years. The chocolate maker announced organic growth of 8.5 per cent for the nine months of 2022, saying “significant cost inflation” was the driver of its price increase. Its sales were up 9.2 per cent [...]
Nestlé sees resilient demand from shoppers despite Kit-Kat maker boosting prices July 28, 2022 Kit-Kat maker Nestlé was the latest household name to declare that price increases for consumers had failed to offset demand, with sales surging. The London-listed firm admitted it had put up prices 6.5 per cent this year but saw profits soar in six months regardless. In half-year results, the consumer goods giant said total reported [...]
Nestlé warns of further price rises over the year amid rampant inflation April 21, 2022 Nestlé has cautioned more price rises could be on the horizon for consumers as cost inflation leaps. In a three month trading update, the Kit Kat owner said it had already “stepped up pricing in a responsible manner” and seen “sustained consumer demand.” Nestlé CEO Mark Schneider added: “Cost inflation continues to increase sharply, which [...]
Nestlé suspends brands including KitKat and Nesquik in Russia after scolding from Ukrainian President Zelensky March 23, 2022 Food and beverage giant Nestlé is suspending brands including KitKat and Nesquik in Russia. “We are focused on providing essential foods such as baby food and medical/hospital nutrition products. This means we will suspend the vast majority of our pre-war volume in Russia,” a Nestlé spokesperson said. It comes after the world’s largest consumer goods [...]
Coronavirus lockdowns turn UK’s Mindful Chef profitable June 15, 2021 The healthy recipe box service has been a pandemic winner, with locked-down customers driving sales up threefold to £53m last year. Mindful Chef today reported it is profitable for the first time, with 2020 sales figures up 230 per cent on 2019, buoyed by the pandemic shift to online food delivery. Customers for the Nestle [...]
Nestle buys health brands from US nutrition firm The Bountiful Company for $5.75bn April 30, 2021 Food and drink giant Nestle has bought a chunk of health brands from US nutrition and supplement firm The Bountiful Company for $5.75bn. The conglomerate announced this morning that it has entered into an agreement with KKR to buy brands including Natures Bounty, Solgar, Osteo Bi-Flex and Puritan’s Pride, as well as the company’s US [...]
Some 600 jobs at risk as Nestlé closes UK factory and moves some production to Europe April 28, 2021 Nestlé plans to close its Fawdon factory near Newcastle, putting 573 jobs at risk in the process. Under new proposals, the Swiss food and drinks conglomerate said products currently made at Fawdon would move to other plants in the UK and in continental Europe. If the plans go ahead, the Fawdon factory will close “towards [...]