Nestle's sales drop 9.4% in 9M 2020 to 61.9B Swiss francs

Wednesday, 21. October 2020 07:21

Nestle S.A. unveiled on Wednesday that its sales for the first nine months of fiscal 2020 fell 9.4% compared to the same period last year to stand at 61.9 billion Swiss francs.

The company reported that its organic growth reached 3.5%, and added that the nine-month-results allow the company's "strategic review" to remain unchanged. With the updated full-year guidance, the firm now sees its full-year organic sales growth at 3%, the report showed.

"Nestle has remained resilient in a difficult and volatile environment. Our people have acted in a responsible and prompt manner to mitigate the impact of the global pandemic and have adapted quickly to evolving consumer needs. Strong organic growth was broad based and supported by sustained momentum in the Americas, Purina PetCare and Nestle Health Science, as well as the acceleration of our coffee business in the third quarter," Nestle CEO Mark Schneider asserted.

Related Links: Nestlé SA
Author:
Breaking the News / BU