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Nestle spooks market over Asia growth

Thursday, October 16, 2014 - 00:50

Sales growth at Nestle, the world's biggest food group, slowed in the first nine months of the year as the company felt the impact of weakness in Asia and pricing pressures in Europe. As Axel Threlfall reports the sales figure came in below forecasts and sent Nestle shares lower.

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Shares knocked back 1.5 percent at the open as sales growth slowed in the first 9 months...an hour later and they're down over 4 percent. The Reuters editors' line: maybe its not such a defensive play after all, as slowing growth in Asia and continued price erosion in Europe disappointed investors.... That said, the boss of the KitKat maker has said he's sticking to his full-year target - organic growth of around 5 percent - a sign, maybe, that its strategy of heavily marketing a smaller range of more profitable products is working... The big question: how long can that internal dynamic compensate for weaker consumer demand? Worth noting that while Europe and the US looked weak, sales growth in its biggest market, the Americas, rose...

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Nestle spooks market over Asia growth

Thursday, October 16, 2014 - 00:50