Nestlé Shares Plunge Due to Weak Volume and High Coffee/Cocoa Prices
Nestlé shares experienced their largest plunge since the dot-com bust, attributed to weak sales volume and the impact of high coffee and cocoa prices on profits. This shattered hopes for a quick turnaround for the company.
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Nestlé shares tumble as coffee and cocoa prices hit profits
Swiss food group’s new leaders are attempting a sweeping turnaround after years of underperformance
Read full article →Nestle Shares Plunge Most Since Dot-Com Bust As Weak Volume Shatters High Hopes Of Turnaround
Nestle Shares Plunge Most Since Dot-Com Bust As Weak Volume Shatters High Hopes Of Turnaround Nestlé shares in Switzerland tumbled the most in 24 years after North American sales volumes unexpectedly contracted, undercutting investor confidence in CEO Philipp Navratil's turnaround efforts. Organic sales rose a better-than-expected 3.7% in the second quarter, but real internal growth in North America fell 0.6%, while an infant formula recall and the Gulf conflict weighed on opera...
By Tyler Durden
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