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Amid noodle woes, Nestle sales fall short of growth target

Nestle's sales growth short of expectations amid India noodle woes, China slowdown

Amid noodle woes, Nestle sales fall short of growth target

GENEVA (AP) -- Nestle SA says its sales fell short of expectations in the first nine months of the year, as the company felt the pinch of a recall of its popular instant noodles in India, where safety tests turned up high levels of lead.

The Swiss food and drinks giant behind Stouffer's and Haagen Dazs reported Friday a 4.2 percent rise in organic sales, which compares like-for-like. That's below the company's projection of 4.5 percent for the full year.

Organic growth was 5.8 percent in Nestle's main region, the Americas, where it has been revising its frozen foods lineup. Asia, Oceania and Sub-Saharan Africa saw a 0.5 percent decline, due partly to the noodles trouble and slower growth in China.

Total sales fell 2 percent to 64.9 billion Swiss francs ($68 billion).


Updated : 2021-09-27 15:23 GMT+08:00