China

Nestlé Cuts Sales Growth As Consumers Become Increasingly Cost Conscious

Nestlé lowered its sales outlook on Thursday, slowing the pace of price hikes sooner than hoped due to increasingly cost-conscious consumers.

Investors for Remy Cointreau have said that it needs to diversify as its reliance on cognac leaves it badly hit by a global spirits downturn.

Pernod Ricard has agreed to sell the majority of its wine portfolio to Australia’s Accolade Wines to focus on its spirit business.

French spirits sales and exports have dropped sharply this year as consumers continued to cut back on spending in the face of cost of living.

Carlsberg sold more of its premium beer brands and saw price increases across all its main markets during the first quarter.

The Irish Whiskey Association is among 72 business delegates currently visiting China to promote its brands and explore export opportunities.

Bord Bia has announced its international trade programme activity for 2024 which will include stops across China, the US and South East Asia.

Pernod Ricard’s shares rose 6% on Thursday, even as the company cut its full-year sales forecast after expected improvements failed to materialise.

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