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Danish dairy firm Arla lowered its full-year sales forecast on Tuesday, saying inflation and the rising cost of living in Europe were prompting consumers to buy fewer or cheaper dairy products to cut costs. Arla's earnings before interest and tax for the first half fell 36% from a year earlier to 161 million euros ($174.19 million). "During the first half of 2023, we continued to see inflationary pressure resulting in consumers moving towards discount channels and private label products," Arla Chief Financial Officer Torben Dahl Nyholm said in a statement. ....
Danish dairy firm Arla lowered its full-year sales forecast on Tuesday, saying inflation and the rising cost of living in Europe were prompting consumers to buy fewer or cheaper dairy products to cut costs. Arla's earnings before interest and tax for the first half fell 36% from a year earlier to 161 million euros ($174.19 million). "During the first half of 2023, we continued to see inflationary pressure resulting in consumers moving towards discount channels and private label products," Arla Chief Financial Officer Torben Dahl Nyholm said in a statement. ....
Arla Cuts Sales Forecast as Consumers Opt for Cheaper Butter, Cheese usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.