Nestle Cuts Predicted Sales Growth Due to COVID-19, an Industrial Info Market Brief

Swiss multinational Nestle cut its predicted sales growth from 3.5% to 2-3% for this year, as rush purchases at the beginning of the COVID-19 pandemic led to a slowdown in demand, according to Reuters.

Nestle noted in its earnings report that in most categories in the second quarter, there was a decrease in stocks accumulated by consumers. Industrial Info is tracking $450 million worth of active Food & Beverage Industry projects by Nestle Company in Europe, including new facilities and expansions of existing ones.