Nestle overhaul speeds up as it posts fastest sales growth in three years [Reuters (UK)]
NESTLE S.A S/ADR (NSRGY)
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Source: Reuters
Nestle overhaul speeds up as it posts fastest sales growth in three years - Reuters 4 Min Read ZURICH (Reuters) - Food giant Nestle ( NESN.S ) posted its fastest organic sales growth in three years on Friday as the KitKat chocolate bar maker’s recovery under Chief Executive Mark Schneider gathered pace. Makers of packaged foods have been struggling to adjust to consumers’ growing appetite for fresh foods deemed healthier and intense competition from small local startups offering goods ranging from breakfast cereals to coffee and chocolate. Since taking over in 2017, Schneider, the first outsider to lead Nestle in a nearly a century, has pushed the company into new areas such as plant-based foods, revamped big brands like Nescafe instant coffee and axed under-performers like its U.S. confectionary operation. Nestle’s organic sales, which strip out currency swings and acquisitions and disposals, accelerated to 3.9% in the three months to the end of June, the highest quarterly rate sin
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