Google: Italy regulators imposed $123M fine on the tech company for alleged abuse of market position
Nestlé pushes net sales up 7.7% amid robust coffee demand
Nestlé posted a first-quarter net sales of CHF 21.09 billion, up 7.7 percent from CHF 20.8 billion ($22.7 billion)at the same time last year, driven by robust coffee sales and a gradual recovery in out-of-home channels.
Strong demand for Nescafé, Nespresso, and Starbucks products was the biggest growth contributor. The company also significantly benefitted from its dairy and pet care products.
The Nespresso unit grew organically by 17.1 percent.
Sales in the Americas stood at CHF 8.24 billion, representing 7.2 percent organic growth led by pet food, coffee, dairy and infant nutrition.
Frozen and chilled food from such brands as Stouffer’s, Lean Cuisine, and Life Cuisine was the largest growth contributor in North America.
The company also witnessed a 4.4 percent organic sales rise in Europe, Middle East, and North Africa zone to CHF 5.2 billion, with coffee and Purina PetCare as key growth drivers.
Sales in the Asia-Oceania region grew organically by 9.1 percent, helped by double-digit growth in China.
Nestlé expects an increase in organic sales growth towards a mid-single-digit rate in its 2021 full-year outlook.