Nestle Hits the Gas to Speed Up Its Profit Gains
Everyone needs food, and that puts Nestle (NASDAQOTH: NSRGY) in an enviable position to capitalize on the opportunity that a huge target audience gives the food giant. Yet recently, Nestle has had to deal with difficult industry conditions that have sapped its sales growth, and even though the company has worked hard in an effort to restart its growth engines, the results thus far have been tepid at best.
Coming into Thursday's release of the company's third-quarter sales update, Nestle investors were hoping that the food company would be able to show some tangible results from its restructuring initiatives. Although Nestle's results did show some progress, the company acknowledged that it needs to do more work to ensure it can take full advantage of its leadership position in the industry. Let's look more closely at Nestle and what it said about its recent performance.
Image source: Nestle.
Source: Fool.com