Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Commodities  >  London Sugar       

LONDON SUGAR
Mes dernières consult.
Most popular
SummaryChartsNewsAnalysis 
News SummaryAll newsTweets

Nestle Needs Three-Year 'Time Out' From Organic Growth Target -- CEO

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/16/2017 | 12:15pm CEST

By Brian Blackstone

VEVEY, Switzerland--Nestlé SA Chief Executive Ulf Mark Schneider said Thursday that the consumer-products giant needs a "time out" from a longstanding growth target that it has failed to achieve in recent years, reflecting global economic headwinds and changes in the consumer-goods industry.

Earlier Thursday, Nestle said organic sales--which strip out the effects of currency fluctuations, acquisitions and divestments--grew just 3.2% in 2016, down from 4.2% in 2015. It was the fourth straight year that Nestlé had missed its 5-6% growth objective, known as the "Nestlé Model."

Nestle also said its objective would be to achieve "mid-single-digit organic growth" as opposed to the 5-6% range it has long sought, but only starting in 2020. That leaves the company without a target growth rate for the next three years.

"This is a time out from that model," Mr. Schneider said in an interview. "For [2017], 18, 19 we don't wish to be measured against that."

"We need this time to cope with some of the remaining deflationary trends we're seeing and we also need the time to adapt to some of these very fundamental changes that we've witnessed in the consumer-goods industry," he said.

Write to Brian Blackstone at [email protected]

Stocks mentioned in the article
ChangeLast1st jan.
LONDON COFFEE -0.06% 1723 End-of-day quote.-0.17%
NESTLÉ -0.27% 75.2 Delayed Quote.-10.26%
NEW YORK COCOA -2.90% 2749 End-of-day quote.44.68%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on LONDON SUGAR
04/20Brands Feel Price Power Slip Away -- WSJ
DJ
04/19Big Consumer Brands Like Raising Prices, but It Is Getting Harder -- 2nd Upda..
DJ
04/19Big Consumer Brands Like Raising Prices, but It Is Getting Harder -- Update
DJ
04/19Big Brands Struggle to Raise Prices
DJ
04/19Nestle 1Q Sales Rose on All-Category Growth
DJ
04/18Traders Hungry for Chocolate as Cocoa Futures Rally
DJ
04/17Sugar Futures Melt to New Low
DJ
04/17AB Foods Beats 1st Half FY2018 Profit Forecast -- Earnings Review
DJ
04/17Earnings Give Stocks a Bump
DJ
04/17Earnings Give Stocks a Bump
DJ
More news
Chart LONDON SUGAR
Duration : Period :
London Sugar Technical Analysis Chart | 4-Traders
Technical analysis trends LONDON SUGAR
Short TermMid-TermLong Term
TrendsBearishBearishBearish