Nestle says raised full-year guidance offers downward protection

FILE PHOTO: CEO Mark Schneider of Nestle is pictured during an interview with Reuters in Konolfingen, Switzerland September 28, 2020. REUTERS/Arnd Wiegmann

ZURICH (Reuters) - Nestle NESN.S took a cautious approach when raising its 2020 guidance to around 3% organic sales growth to have some downward protection in volatile times, the food group's chief executive told an analyst call on Wednesday.

“While it is important to have some downward protection at this volatile time, we would be disappointed if full year organic growth in 2020 would not stay at or above 3%,” Mark Schneider said, adding he was not aware of any major headwinds that would stand in the way.

Reporting by Silke Koltrowitz; editing by Brenna Hughes Neghaiwi