HomeTop Global NewsNestlé Expects “Stable” Sales Growth for Remainder of 2024

Nestlé Expects “Stable” Sales Growth for Remainder of 2024

Food and beverage giant Nestlé expects its sales to have a “stable” growth from the second quarter until the end of 2024. This was shared by the company’s CEO Markus Schneider in a recent interview with the Swiss media outlet Schweiz am Wochenende.

Schneider said that Nestlé, which owns brands like KitKat, Nespresso, and Maggi, overcame the challenges that came with cost inflation and diminishing sales that came with higher prices.

“From the second quarter and for the rest of the year, a stable, positive contribution to growth through volume and product mix is expected again,” Schneider added.

Elsewhere in the interview, Schneider shared that Nestlé’s coffee and pet food businesses continue to expand in a positive way.  The two divisions were among the biggest drivers of growth for the company in the past several years.

Schneider’s proclamation comes after a disappointing first quarter for Nestlé with a 5.9% decrease in total sales compared to the same period in 2023, and the real internal growth rate dropped by 2%. The company was particularly hit with slower consumer demand in North America, where its organic sales dipped by 2.5%. Despite this, it projected an organic sales growth of around 4% for the full year.

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