Nestlé Lowers 2024 Sales Outlook Amid Inflation

Nestlé has downgraded its full-year sales outlook for 2024 due to weakened consumer spending driven by inflation and high interest rates. The company now expects at least 3% organic revenue growth, down from the prior estimate of around 4%. This revision reflects a trend of consumers opting for cheaper alternatives amid economic pressures. Despite some areas of growth, such as coffee and PetCare, overall performance did not meet expectations, leading to a decline in Nestlé's stock. In Malaysia, Nestlé reported an 8% drop in sales for the first half of 2024, attributed to cautious consumer spending. The company remains focused on innovation and efficiency improvements to navigate these challenging conditions.