Consumer goods giant Nestle saw sales barely rise in the first three months of 2017 but confirmed its guidance for the year, including a rise in restructuring costs.
The Vevey, Switzerland-based company said sales in the quarter rose 0.4 percent 21 billion Swiss francs ($21.07 billion). Underlying sales, which exclude the impact of acquisitions, were up 2.3 percent, with emerging markets doing far better than developed markets. Consumer demand in the Americas, in particular, was soft.
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CEO Mark Schneider said Thursday he was "encouraged by the growth in Asia and the resilience of consumer spending in Europe" and added that Nestle had made good progress in its efforts to boost growth and keep a lid on costs.