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4-Traders Homepage  >  Equities  >  Swiss Exchange  >  Nestlé    NESN   CH0038863350

NESTLÉ (NESN)
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Nestle : retailers make progress in talks to end price row

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04/17/2018 | 02:55pm CEST
The Nestle logo is seen during the opening of the 151st Annual General Meeting of Nestle in Lausanne

ZURICH (Reuters) - Nestle and European supermarket retailers are making progress toward settling a months-long price dispute but the Swiss food giant still needs to offer more concessions, German chain Edeka said on Tuesday.

Nestle has for several months been facing off with AgeCore, a Geneva-based group representing six European retailers - including Edeka and Switzerland's Coop - who have boycotted Nestle products as they seek better supply terms.

"We're making progress and we want to end this fight," Edeka's Chief Executive Markus Mosa said on Tuesday at his company's 2017 results presentation in Hamburg.

Nestle had made an offer but "it is not acceptable as it stands," Mosa said. Several unspecified issues must be resolved to satisfy AgeCore's demands, he said.

Edeka, Germany's largest supermarket group, this month recommended its stores expand an existing boycott of some Nestle products, escalating the pricing row between the world's biggest packaged food maker and European retailers that began in September.

Switzerland's Coop also broadened its boycott earlier this month, banishing more Nestle products from its shelves.

Mosa said his side still has room to raise pressure on Nestle if it sees fit, but that was not currently planned.

Earlier, the Frankfurter Allgemeine Zeitung reported that a tentative compromise had been reached and that officials from both sides were hammering out the details of a new contract, citing an anonymous source that the German newspaper said was involved in talks between Nestle and AgeCore.

"Nestle managers were willing to make concessions on key points," the source told FAZ.

The newspaper also reported that Edeka-led AgeCore was demanding, among other things, that KitKat maker Nestle contribute more to cooperative marketing campaigns.

Nestle and Edeka declined to comment on any potential deal to end the dispute, which has emerged as the latest outward sign of tension between European retailers and suppliers at a time of changing consumer tastes and new online competition.

Nestle, under the leadership of new Chief Executive Mark Schneider, is reeling from its weakest annual sales growth in at least two decades, which has prompted shareholder pressure to boost revenue and profit margins.

It is due to release first-quarter sales data on Thursday.

(Reporting by Angelika Gruber and John Miller in Zurich and Jan C. Schwartz in Hamburg; editing by John Revill/Michael Shields/Susan Fenton)

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Financials ( CHF)
Sales 2018 91 601 M
EBIT 2018 15 086 M
Net income 2018 10 484 M
Debt 2018 20 874 M
Yield 2018 3,31%
P/E ratio 2018 21,16
P/E ratio 2019 19,04
EV / Sales 2018 2,79x
EV / Sales 2019 2,71x
Capitalization 235 B
Chart NESTLÉ
Duration : Period :
Nestlé Technical Analysis Chart | NESN | CH0038863350 | 4-Traders
Technical analysis trends NESTLÉ
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 84,8  CHF
Spread / Average Target 12%
EPS Revisions
Managers
NameTitle
Ulf Mark Schneider Chief Executive Officer & Director
Paul Bulcke Chairman
Magdi Batato Executive Vice President & Head-Operations
François-Xavier Michel Marie Roger Chief Financial Officer & Executive Vice President
Stefan Palzer Chief Technology Officer & Executive VP
Sector and Competitors
1st jan.Capitalization (M$)
NESTLÉ-10.21%241 338
THE KRAFT HEINZ COMPANY-20.67%74 092
MONDELEZ INTERNATIONAL-1.89%62 281
DANONE-4.10%55 520
ASSOCIATED BRITISH FOODS-6.24%29 908
GENERAL MILLS-23.66%26 520