The Traderszone Network

Published in TZ Latest News 15 October, 2015 by The TZ Newswire Staff

Nestle cuts full-year outlook after sales miss

Nestle (NESN.VX), the world’s largest packaged food company, lowered its full-year outlook on Friday, as a Maggi noodle recall in India knocked sales and undercalculated U.S. Skin Health rebates weighed on the Swiss company’s profits. Sales dropped 2.1 percent to 64.9 billion Swiss francs ($68 billion) in the nine months through September, missing analysts’ average forecast of 65.9 billion in a Reuters poll.