“Nestle plans price hikes after inflation eats into profits”
February 16, 2023
“The world’s biggest food group Nestle will raise prices further this year, Chief Executive Mark Schneider said on Thursday, after more expensive ingredients contributed to full-year net profit missing analyst expectations….
The maker of Nescafe instant coffee and KitKat chocolate bars raised prices by 8.2% last year, but that did not fully offset the impact of increased costs for ingredients on margins…
Shareholders’ net profit fell to 9.27 billion Swiss francs, missing expectations for 11.58 billion francs, although the consensus forecast did not account for the impairment at Nestle’s Aimmune subsidiary last year, analysts said…”
https://www.cnbc.com/2023/02/16/nestle-plans-price-hikes-after-inflation-eats-into-profits.html