Nestlé brews strong coffee growth as COVID serves improved category dynamics
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Nestlé brews strong coffee growth as COVID serves improved category dynamics
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Coffee, dairy help Nestle post strongest quarter in a decade Reuters 2 hrs ago
By Silke Koltrowitz
ZURICH (Reuters) -Nestle on Thursday posted its strongest quarterly sales growth in 10 years, citing stronger demand for coffee, dairy and petcare products.
The world s biggest food group has weathered the COVID-19 pandemic well so far as consumers locked up at home bought more packaged foods for themselves and their pets.
It also expanded ecommerce and its health science portfolio as consumers bought more online and worried about their health. Retail sales saw solid growth and out-of-home channels saw signs of improvement. We confirm our guidance for the year and our mid-term outlook for sustained mid single-digit organic growth, Chief Executive Mark Schneider said in the statement.