Nestle Q1 sales hit by strong franc and formula recall; volumes edge up
Strong Swiss franc and a baby formula recall weighed on Nestle’s first-quarter sales, while overall sales volumes rose modestly.
Nestle, whose brands include Nespresso coffee and Perrier water, saw first-quarter sales decline due to the strong Swiss franc and a baby formula recall. Despite the currency and recall headwinds, overall sales volumes edged higher, signalling a modest recovery in demand.