The company, which makes popular brands including KitKat and Nescafe, has been increasing prices following supply chain pressures in the wake of COVID and the war in Ukraine.
Nestle on Thursday missed first-quarter organic sales growth estimates, as the world s biggest packaged food company hiked prices and sold fewer products, particularly in North America.
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Frozen Russian assets value plummeted to 5.8 billion francs ($6.3 billion) from 7.5 billion ($8.2 billion) at the end of 2023, resulting from blocked shares and other financial assets being now worth less, State Secretariat for Economic Affairs (SECO) said, Reuters reported.