financetom
Business
financetom
/
Business
/
France's Danone keeps 2024 goals as Q3 sales beat forecasts
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
France's Danone keeps 2024 goals as Q3 sales beat forecasts
Oct 31, 2024 1:35 AM

PARIS (Reuters) -French food group Danone beat third-quarter sales expectations on Thursday, boosted by higher sales volumes as price hikes slowed further, and reflecting strong demand in North America for high-protein products, coffee creamers and waters.

The world's largest yoghurt maker kept its forecast for 2024 like-for-like sales growth of between 3% and 5%, with a moderate improvement in recurring operating margin.

The maker of Activia yoghurt, Evian water and Aptamil infant milk posted a 4.2% rise in third-quarter like-for-like sales to 6.826 billion euros ($7.36 billion), above analysts' expectations for a 3.9% rise in a company-compiled consensus.

Sales volumes rose by 3.6% in the third quarter, compared to a 2.9% increase expected by analysts polled in a company-provided consensus.

The company raised its prices by 0.7% during the period, less than the 1% increase in the previous quarter, and less than 0.9% seen in the consensus.

Consumer goods companies including Danone, Nestle and Unilever are slowing down price hikes after three years of steep increases following the COVID-19 pandemic, as shoppers hit by a cost-of-living crisis turn to cheaper, non-branded alternatives.

Last week Nestle cut its full-year outlook for organic sales growth to around 2% following weaker than expected nine-month underlying sales growth.

($1 = 0.9275 euros)

(Reporting by Dominique Vidalon, Editing by Benoit Van Overstraeten and Lincoln Feast.)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Walgreens Boots Alliance to Offer Claire's Products
Walgreens Boots Alliance to Offer Claire's Products
Mar 12, 2024
10:03 AM EDT, 03/12/2024 (MT Newswires) -- Walgreens Boots Alliance ( WBA ) will offer Claire Holdings' fashion accessories and products nationwide by the end of March, Claire's said Tuesday. Claire's said more shoppers will have more access to its jewelry, hair accessories, cosmetics, and seasonal merchandise at Walgreens' locations. Price: 21.26, Change: -0.28, Percent Change: -1.30 ...
Top bank regulator says agencies 'open-minded' about capital hike tweaks
Top bank regulator says agencies 'open-minded' about capital hike tweaks
Mar 12, 2024
WASHINGTON (Reuters) - A leading U.S. bank regulator said Tuesday that the government will be open-minded about making changes to a contentious plan to raise large bank capital requirements. Michael Hsu, the acting Comptroller of the Currency, said regulators are carefully considering numerous comments critical of the so-called Basel III endgame proposal, which the industry has decried as overly burdensome....
Campbell Soup Completes $2.7 Billion Sovos Brands Acquisition
Campbell Soup Completes $2.7 Billion Sovos Brands Acquisition
Mar 12, 2024
10:03 AM EDT, 03/12/2024 (MT Newswires) -- Campbell Soup ( CPB ) said Tuesday it has completed the acquisition of Sovos Brands for $23 per share in an all-cash deal of about $2.7 billion. The company said the Sovos brand portfolio consisting of Rao's, Michael Angelo's and noosa will become part of Campbell's newly formed Distinctive Brands business unit within...
Hormel Foods Corp /de/ Insider Sold Shares Worth $526,369, According to a Recent SEC Filing
Hormel Foods Corp /de/ Insider Sold Shares Worth $526,369, According to a Recent SEC Filing
Mar 12, 2024
10:03 AM EDT, 03/12/2024 (MT Newswires) -- Mark A Coffey, GROUP VICE PRESIDENT, on March 08, 2024, sold 15,400 shares in Hormel Foods Corp ( HRL ) /de/ (HRL) for $526,369. Following the Form 4 filing with the SEC, Coffey has control over a total of 79,522 shares of the company, with 68,029 shares held directly and 11,493 shares controlled...
Copyright 2023-2026 - www.financetom.com All Rights Reserved