(Business) – A 4.3% rise in organic sales growth has been reported by Nestle for the first quarter. This is because consumers filled their cupboards with Purina pet food and Poland Spring water in preparation for coronavirus lockdowns.
Nestle is also launching a 500 million Swiss franc (414.56 million pounds) program to aid its foodservice suppliers during coronavirus by extending payment terms and suspending rental fees for coffee machines.
Nestle also said it was keeping its outlook for the year.
Analysts expect a 3.0% increase in first-quarter underlying sales growth.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.