Nestle reported a drop in sales for the first quarter, as its new Chief Executive Philipp Navratil continues to undertake a plan for a sweeping overhaul of the food company's structure.
The maker of KitKat chocolate bars and Nescafe coffee reported 21.32 billion Swiss francs ($27.17 billion) in sales compared with 22.6 billion francs for the same period a year prior. Analysts expected 21.27 billion francs in sales.
On an organic basis, sales grew 3.5% in the first quarter. A company-compiled consensus of analyst expectations had organic sales growth of 2.4%.
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