Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Nestlé    NESN   CH0038863350

NESTLÉ (NESN)
My previous session
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsTweets
OFFRE

Nestle : retailers make progress in talks to end price row

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/17/2018 | 02:55pm CEST
The Nestle logo is seen during the opening of the 151st Annual General Meeting of Nestle in Lausanne

ZURICH (Reuters) - Nestle and European supermarket retailers are making progress toward settling a months-long price dispute but the Swiss food giant still needs to offer more concessions, German chain Edeka said on Tuesday.

Nestle has for several months been facing off with AgeCore, a Geneva-based group representing six European retailers - including Edeka and Switzerland's Coop - who have boycotted Nestle products as they seek better supply terms.

"We're making progress and we want to end this fight," Edeka's Chief Executive Markus Mosa said on Tuesday at his company's 2017 results presentation in Hamburg.

Nestle had made an offer but "it is not acceptable as it stands," Mosa said. Several unspecified issues must be resolved to satisfy AgeCore's demands, he said.

Edeka, Germany's largest supermarket group, this month recommended its stores expand an existing boycott of some Nestle products, escalating the pricing row between the world's biggest packaged food maker and European retailers that began in September.

Switzerland's Coop also broadened its boycott earlier this month, banishing more Nestle products from its shelves.

Mosa said his side still has room to raise pressure on Nestle if it sees fit, but that was not currently planned.

Earlier, the Frankfurter Allgemeine Zeitung reported that a tentative compromise had been reached and that officials from both sides were hammering out the details of a new contract, citing an anonymous source that the German newspaper said was involved in talks between Nestle and AgeCore.

"Nestle managers were willing to make concessions on key points," the source told FAZ.

The newspaper also reported that Edeka-led AgeCore was demanding, among other things, that KitKat maker Nestle contribute more to cooperative marketing campaigns.

Nestle and Edeka declined to comment on any potential deal to end the dispute, which has emerged as the latest outward sign of tension between European retailers and suppliers at a time of changing consumer tastes and new online competition.

Nestle, under the leadership of new Chief Executive Mark Schneider, is reeling from its weakest annual sales growth in at least two decades, which has prompted shareholder pressure to boost revenue and profit margins.

It is due to release first-quarter sales data on Thursday.

(Reporting by Angelika Gruber and John Miller in Zurich and Jan C. Schwartz in Hamburg; editing by John Revill/Michael Shields/Susan Fenton)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on NESTLÉ
09/22NESTLE : Henkel says looking at M&A, no comment on Nestle - Boersen-Zeitung
RE
09/21Nestlé Puts Unit Under Review -- WSJ
DJ
09/21NESTLE : No skin in the game for Nestle as it opts for health business sale
AQ
09/20JAB sees acquisition opportunities in non-alcoholic beverages - Manager Magaz..
RE
09/20Nestle aims to shed skin unit to focus on food, nutrition
RE
09/20Nestle aims to shed skin unit to focus on food, nutrition
RE
09/20Nestlé Sharpens Focus on Food and Beverages With Review of Skin-Health Unit -..
DJ
09/20Nestlé Sharpens Focus on Food and Beverages With Review of Skin-Health Unit -..
DJ
09/20Nestle Exploring Strategic Options for Skin Health Unit
DJ
09/20NESTLE : Nestlé to sharpen its Nutrition, Health and Wellness strategic focus, w..
GL
More news
News from SeekingAlpha
09/20Nestlé to jettison skin health unit 
09/18Glaxo fielding multiple bids for Indian Horlicks unit 
09/17Nestlé to sell Gerber Life insurance unit for $1.55B 
09/01Tracking David Winters' Wintergreen Advisers Portfolio - Q2 2018 Update 
08/31Coca-Cola crashes into coffee 
Financials (CHF)
Sales 2018 91 666 M
EBIT 2018 15 141 M
Net income 2018 11 154 M
Debt 2018 27 005 M
Yield 2018 3,08%
P/E ratio 2018 21,99
P/E ratio 2019 20,07
EV / Sales 2018 2,99x
EV / Sales 2019 2,90x
Capitalization 247 B
Chart NESTLÉ
Duration : Period :
Nestlé Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends NESTLÉ
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 86,6  CHF
Spread / Average Target 7,5%
EPS Revisions
Managers
NameTitle
Ulf Mark Schneider Chief Executive Officer & Director
Paul Bulcke Chairman
Magdi Batato Executive Vice President-Operations
François-Xavier Michel Marie Roger Chief Financial Officer & Executive Vice President
Stefan Palzer Chief Technology Officer
Sector and Competitors
1st jan.Capitalization (M$)
NESTLÉ-3.87%257 316
THE KRAFT HEINZ COMPANY-26.54%70 192
MONDELEZ INTERNATIONAL2.66%64 441
DANONE-4.57%53 718
ARCHER-DANIELS-MIDLAND COMPANY25.57%28 166
GENERAL MILLS-25.16%26 508