Nestlé Sells Less After Raising Prices, Moves to Drop Some Unpopular Lines
KitKat-maker Nestlé is trying to balance how much it can raise prices by without prompting consumers to cut back on purchases.Photo: fabrice coffrini/Agence France-Presse/Getty Images
Nestlé SA reported a fall in sales volumes for the fourth quarter as the maker of Nescafé coffee and Purina pet food raised prices to offset soaring costs and halted sales of some less popular products.
The Swiss packaged-foods giant said Thursday that sales volumes fell 2.6% in the last three months of 2022, with prices rising by an average of 10.1%. Organic growth for the quarter was 7.5%, below analysts’ expectations.
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