Nestle cuts sales outlook as nine-month organic growth disappoints
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Boxes of baby food are seen in the company supermarket at the Nestle headquarters in Vevey, Switzerland, February 16, 2012. REUTERS/Denis Balibouse/File Photo
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ZURICH (Reuters) - Nestle
The Swiss food giant on Thursday said it now expected its full-year sales to rise by 3.5 percent after posting an increase of 3.3 percent for the nine months. It previously said it expected full-year organic sales to rise by around 4.2 percent.
Sales rose to 65.51 billion Swiss francs ($66.19 billion)from 64.86 billion Swiss francs a year earlier, Vevey-based Nestle said. The figure lagged the average analyst estimate of 66.00 billion francs in a Reuters poll.
Analysts polled by Reuters had on average expected organic growth -- which strips out the impact of acquisitions and currency swings -- of 3.7 percent.
(Reporting by John Revill, Editing by Michael Shields)
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