The manufacturer of KitKat and Nescafe, which saw a decline in business in North America, missed first-quarter sales projections, the firm disclosed on Thursday.
Compared to the same period last year, total reported sales decreased by 5.9% globally in the first three months of 2024 to 22.1 billion Swiss francs (£19.4 billion).
Prices increased by 4.6% in Europe and 3.4% internationally.
While total drink sales, including those of Nestle’s Coffee Mate brand, declined during the quarter, the company reported that its Purina PetCare line was a key growth driver.
The company’s line of dietary supplements and goods had negative growth as well because “strong demand” was “more than countered by the transient.
