Working from home has led to soaring sales for Nestlé as the nation has been fueling themselves with Americanos ans espressos.
Nescafé instant coffee and sales for the companies Nespresso coffee machines have surged by 17% in the first quarter of 2021.
Starbucks branded range also had soaring trade and Nestlé sales have boomed during the pandemic along with Brits buying baking ingredients along with carnation evaporated milk.
Nestlé’s overall sales growth was up by 7.7% compared to the previous period of 2021 bing just 4.3%.
Mark Schneider, the Nestlé chief executive said the company has gone from strenght to strenght and has seen “solid growth” in retail sales.
City analysts, with Jon Cox at Kepler Cheuvreux said the company has seen a “blowout” performance as sales have more than doubled.
Leave a Comment