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Real internal growth (RIG) - or a measure of sales volumes - fell 0.6%, meeting expectations. "The ultimate catalyst for the stock's multiple to improve is going to be seeing that volume number going positive." Analysts had on average expected organic sales growth of 8.1%. Nestle confirmed its full-year outlook of organic sales growth between 7% and 8% and underlying trading operating profit margin between 17.0% and 17.5%. The drug's popularity has prompted concerns in the consumer and retail industry over whether food sales will be impacted.

Persons: Denis Balibouse, Nestle, Mark Schneider, Schneider, Richard Saldanha, Maggi, Novo, Richa Naidu, Christopher Cushing, Jason Neely Organizations: Nestle, REUTERS, Gillette, Aviva, Novo Nordisk's, Walmart, Thomson Locations: Romont, Switzerland, Ukraine

The private equity firm's follow-on investment translates into an additional equity stake of 0.25% in Reliance Retail on a fully-diluted basis, taking KKR's total equity stake in the Indian company to 1.42%, the retailer said in a statement on Monday. That year, KKR had invested 55.5 billion rupees ($669.65 million) in Reliance Retail. Morgan Stanley acted as financial adviser to Reliance Retail. Ambani said in 2019 that the group planned to list the retail business in five years. Reliance Retail reported a consolidated net profit of 91.81 billion rupees ($1.11 billion) for the financial year that ended in March 2023, on revenue of 2.6 trillion rupees.

Persons: Maggi, Niharika Kulkarni, Mukesh Ambani's, Jimmy Choo, Spencer, Pret, Ambani, Morgan Stanley, Aditya Kalra, Toby Chopra, Tomasz Janowski, Deepa Babington Organizations: REUTERS, KKR, Co Inc, Retail Ventures, Reliance, Reliance Retail, Saudi Public Investment Fund, General Atlantic, United Arab, Asian, IV, Reuters, Qatar Investment Authority, Unilever, Thomson Locations: Mumbai, India, DELHI, United Arab Emirates

Finance Minister Bruno Le Maire said on June 9 he had secured a pledge from 75 food companies to cut prices. French shoppers have paid more than 20% more for Nestle products each month since January versus last year, the data showed, and price increases peaked at 36.6% in May. Nestle, whose brands include Maggi stock cubes and Kit Kat chocolate bars, declined to comment. Similarly, stores sold products made by Activia yogurt owner Danone for between 11.2% and 16.7% more than last year in the first six months of the year. The NielsenIQ data shows the final prices retailers charge shoppers, and does not necessarily only reflect the prices food companies ask for from stores.

Persons: Arnd, Bruno Le Maire, Bernstein, Kat, Le Maire's, Jack Martin, Janus Henderson, Gaurav Gooptu, Richa Naidu, Sybille de La, Matt Scuffham, Sharon Singleton Organizations: Swiss, Nestle, REUTERS, Danone, Finance, Reuters, Reuters Graphics Reuters, Oberon Investments, U.S, Consumers, BNP, Thomson Locations: Bern, Konolfingen, Switzerland, France

Last week, for instance, Nigeria's central bank allowed the naira currency to drop as much as 36% on the official market. Nestle, which is replacing imported corn starch in Nigeria with cassava starch, told Reuters it has helped seven local suppliers to boost capacity to meet the company's supply needs. ONION POWDER AND TURMERICNestle said it was working to develop local suppliers of vegetables and spices used in Maggi products, for instance onion powder in Nigeria and Senegal, and turmeric powder in Nigeria. Nestle did not comment on whether its position in Nigeria would help insulate it from foreign exchange volatility, neither did it give an indication of the economic impact of the local sourcing. ($1 = 0.8967 Swiss francs)Reporting by Richa Naidu; Editing by Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

Persons: Arnd, Kat, Nestle, Richa Naidu, Emelia Sithole Organizations: Swiss, Nestle, REUTERS, LONDON, Reuters, Unilever, Thomson Locations: Bern, Konolfingen, Switzerland, Nigeria, Cameroon, Senegal, Swiss, Asia, East, Africa

CNN —They say good things come to those who wait, and Drew Maggi has been waiting a long time for his major league call-up. The third baseman for the Altoona Curve – the Pittsburgh Pirates’ AAA affiliate – was drafted by the Pirates in the 15th round of the 2010 MLB draft but never played a big league game. Understandably, Maggi was pumped after spending his entire 13-year career in the minor leagues and celebrated alongside his teammates upon receiving the news. There were a lot of ups and downs, a lot of different people, injuries, a lot of stuff happens. So, being here, it feels right.”Maggi had most recently been playing with the Altoona Curve, the Pittsburgh Pirates' AAA affiliate.

A sailor was rescued by the Colombia’s navy after what he said was a 24-day ordeal in which he only had a bottle of ketchup and some seasoning to eat. Elvis Francois, 47, a national of Dominica, said in a video released by the navy that he spent 24 days with no sight of land before his rescue in the Caribbean Sea. Colombian Navy press office via APHe had written “help” on the hull of the boat, which was spotted by air, the navy said. In video released by the Navy and distributed by news services The Associated Press and Reuters, Francois tells medical staff he is doing OK.“Twenty-four days, no land. Francois said in the video he tried to go back to port, but couldn't, and he tried to call friends but lost service.

☆ ‘Chinese chorizo’ honors fusion of two cultures in Arizona
▼ + stars: | 2022-10-21 | by ( Associated Press | ) www.nbcnews.com time to read: +7 min

It’s a history that older Tucson Chinese residents say they have spent years trying to make more visible. To promote the endeavor, she organized the inaugural Tucson Chinese Chorizo Festival. The 15,000-square-foot Tucson Chinese Cultural Center is a bustling hub that’s part community center and part museum, and serves at least 5,000. On the walls are display boards with mini-profiles of long-gone Chinese grocery stores. The center also has a YouTube channel that includes a 2014 video on Chinese chorizo.

☆ Nestle India's profit tops estimates on price hikes, demand rebound
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Oct 19 (Reuters) - Nestle India (NEST.NS) reported a bigger-than-expected rise in third-quarter profit on Wednesday, benefiting from price increases and a rebound in demand for its chocolates and packaged foods in rural areas. The Maggi noodles maker's profit rose 8.3% to 6.68 billion Indian rupees ($81.1 million) in the quarter ended Sept. 30. Analysts on average were expecting a profit of 6.57 billion rupees, according to IBES data from Refinitiv. "Growth has been very strong in the large metros and mega cities and continued to be robust across smaller town classes, including rural markets," Nestle India Managing Director Suresh Narayanan said in a statement. However, analysts says that certain categories, including noodles and biscuits, defied the trend as people consider such items small treats during economic downturns, adding to Nestle's resilient urban sales momentum.

Jars of Nescafe Gold coffee by Nestle are pictured in the supermarket of Nestle headquarters in Vevey, Switzerland, February 13, 2020. Russia's invasion of Ukraine has propelled energy and grain prices to all-time highs, driving up the cost of packaged goods. That has been felt particularly acutely in parts of Asia and North Africa, where people spend a higher proportion of income on food and fuel than in the United States and Europe, prompting some shoppers to stockpile non-perishable items. "Nestle is seeing hoarding with bouillon, to an extent soups, coffee for sure," Al Bitar told Reuters. Several countries in North Africa and Central Asia are suffering recurring shortages of basic necessities.

☆ В Nestle признали 2/3 своей продукции вредной для здоровья человека
▼ + stars: | 2021-06-01 | by ( Super User | ) mybusiness.md time to read: +1 min

В швейцарской транснациональной корпорации Nestle (бренды KitKat, Maggi, Nescafe, Nesquik и Nestea) заявили, что 60% продукции компании вредны для здоровья, а некоторые категории продуктов никогда не смогут стать частью здорового питания, сколько бы компания их ни обновляла. Об этом говорится в презентации Nestle, пишет Financial Times. 96% напитков, за исключением кофе, а также 99% кондитерских изделий и мороженого Nestle, также не прошли порог, сообщает znak.com. Одними из самых вредных продуктов были признаны пицца Digorno с мясом на слоеном тесте: она содержит 40% суточной нормы натрия, а пицца Hot Pockets с пепперони — 48% от суточной нормы натрия. Напомним, компания Nestle производит растворимый кофе, воду, шоколад, мороженое, сухие растворимые бульоны, молочные продукты, детское питание, корм для домашних животных, фармацевтическую продукцию и косметику.

Persons: Maggi, Nescafe Organizations: Nestle, KitKat, Financial Times

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