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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Nestlé S.A.    NESN   CH0038863350

NESTLÉ S.A.

(NESN)
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Delayed Quote. Delayed Swiss Exchange - 07/09 11:30:57 am
105.58 CHF   -0.38%
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Nestlé Loses Meatless Brand -- WSJ

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06/02/2020 | 02:48am EDT

By Saabira Chaudhuri

Nestlé SA must stop branding its plant-based burger "Incredible" after a European court ruled the language infringed on Impossible Foods Inc.'s trademarks and could confuse consumers.

The order by the District Court of The Hague in the Netherlands means Nestlé has to change the name of its Garden Gourmet Incredible Burger throughout the European Union. Nestlé said it would rebrand the product as Sensational across Europe, while also appealing the decision.

The ruling is a setback for the world's biggest packaged-foods maker, which has sought growth in the burgeoning market for plant-based products at a time when many other packaged foods have struggled as consumers reach for cheaper alternatives or higher-end fresh food.

"We are disappointed by this provisional ruling as it is our belief that anyone should be able to use descriptive terms such as 'incredible' that explain the qualities of a product," a Nestlé spokesman said.

Nestlé's Incredible Burger, made from soy and wheat protein, launched in April last year and is sold in 15 countries in the region. Outside Europe, the burger is sold in Australia, although Nestlé said it didn't yet know if the name would be changed there. Nestlé also sells a different plant-based burger in the U.S., branded Awesome Burger and made from pea protein.

Impossible, founded in 2011, doesn't currently sell in Europe but said it is in the process of getting approval to do so. The U.S. company sought an injunction against Nestlé's product, claiming the Swiss giant was trying to impede its entry into the European market by using a similar name.

The legal spat underscores the race for dominance in the fast-growing but increasingly crowded meat-free market, where established packaged-foods companies are jockeying with startups. Plant-based meat sales in U.S. retail stores totaled a little over $1 billion for the 52 weeks ended Jan. 25, according to research firm Nielsen, up 14% from the prior year. Sales of traditional meat grew 0.8% to $96 billion over that period.

Impossible, which launched its burger in 2016, recently slashed prices on its products to be more competitive as companies such as Smithfield Foods Inc. and Cargill Inc. plot their own plant-based offerings.

Write to Saabira Chaudhuri at saabira.chaudhuri@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
CHANGE INC. -0.88% 7890 End-of-day quote.171.32%
FEEDER CATTLE?FUTURES (GF) - CMG (ELECTRONIC)/C1 -0.06% 134.45 End-of-day quote.-7.76%
LIVE CATTLE (LE) - CMG (ELECTRONIC)/C1 0.50% 99.75 End-of-day quote.-20.41%
NESTLÉ S.A. -0.38% 105.58 Delayed Quote.1.15%
SWISS RE LTD -1.64% 73.04 Delayed Quote.-31.68%
THE NEW HOME COMPANY INC. -0.92% 3.24 Delayed Quote.-29.83%
WHEAT FUTURES (W) - CBR (FLOOR)/C1 1.69% 526.25 End-of-day quote.-7.38%
WORLD CO., LTD. -3.41% 1501 End-of-day quote.-44.22%
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Financials
Sales 2020 86 177 M 91 574 M 91 574 M
Net income 2020 11 608 M 12 335 M 12 335 M
Net Debt 2020 28 823 M 30 628 M 30 628 M
P/E ratio 2020 26,2x
Yield 2020 2,56%
Capitalization 294 B 313 B 312 B
EV / Sales 2019
EV / Sales 2020 3,75x
Nbr of Employees 291 000
Free-Float 96,8%
Chart NESTLÉ S.A.
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Nestlé S.A. Technical Analysis Chart | MarketScreener
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Technical analysis trends NESTLÉ S.A.
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TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 109,97 CHF
Last Close Price 105,58 CHF
Spread / Highest target 23,1%
Spread / Average Target 4,16%
Spread / Lowest Target -25,2%
EPS Revisions
Managers
NameTitle
Ulf Mark Schneider Chief Executive Officer & Director
jeff hamilton President
Paul Bulcke Chairman
Magdi Batato Executive Vice President-Operations
François-Xavier Michel Marie Roger Chief Financial Officer & Executive Vice President
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