Recession? What recession?
Tweet Loading… You’ll notice that the mainstream media couches the 10% price hike with “sweet” sales, since all that inflation is technically forcing people to give grocery companies record sales. Nestle said sales of its confectionary worldwide increased in the past three months despite it increasing the prices of its more than 2,000 brands, which cover coffee, pet care, baby food, drinks, cereals and prepared dishes.
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Nestle’s global sales rose by 5.6% to 23.5bn Swiss francs (£21.3bn) in the first three months of 2023.”Nestle’s showing just how important it is to have a strong suite of brands, which have allowed the consumer giant to push through some pretty hefty price hikes with little impact on volumes,” said Matt Britzman, equity analyst at Hargreaves Lansdown. Translation: It’s good to be a huge company that can afford to hike prices.Too bad for the little guys!The company said the price increases […]
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