Nestlé downgrades sales outlook and looks to new products for growth
Nestlé said it expects sales growth of at least 3% for 2024, marking a downgrade from its previous projection of around 4%. It comes as the Swiss company is trying to win back customers after high prices due to inflation has resulted in customers opting for cheaper brands. The group said, however, that prices had come down faster than expected, prompting it to change its outlook. “Positive real internal growth is back. We delivered improved volume and mix growth across the Group in the second quarter. Nestlé Health Science is recovering as planned and is set for a strong second half. Looking a...