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Nestle reports sales drop in first quarter, blames strong franc

The world's leading food industry group Nestle saw its sales plunge 5.1 percent in the first quarter, it said on Tuesday, blaming the effect of exchange rates and strength of the Swiss franc. During the first three months of the year, the maker of Nespresso capsules and baby food and many other products, said it had taken 20.8 billion Swiss francs ($23.6 billion, 17.1 billion euros) in sales. That number missed the expectations of analysts polled by the AWP financial news agency, who had foreseen sales of 21.1 billion francs for the quarter.

Nestle says 2014 will be another challenging year amid weak emerging markets

GENEVA - Nestle, the world's biggest food and drinks maker, said Thursday it expects 2014 to be just as challenging as last year amid falling growth in emerging markets and weaker prices in Europe. The maker of Nescafe, Perrier, Jenny Craig and Haagen Dazs is a major buyer of food commodities such as wheat, sugar, and milk and its results are a good indicator of the strength of consumer demand around the world. Nestle's shares fell 1.49 per cent to close at 66.10 Swiss francs on the Zurich exchange Thursday.

Nestle hints at more deals after deeper healthcare dive

By Martinne Geller and Ben Hirschler LONDON (Reuters) - Swiss food giant Nestle's deeper dive into healthcare by taking over the dermatology joint venture it had with L'Oreal suggests further deals in the space are likely. The move underscores Nestle's determination to move beyond relatively stagnant traditional food markets into "wellness", where growth prospects and profit margins are more enticing.

Nestle net profit shrinks 2% in 2013

The world's leading food industry group Nestle said Thursday its net profit shrank 2 percent in 2013, blaming a soft economic environment, and cautioned that 2014 will also be difficult. "Last year was challenging and 2014 will likely be the same," Nestle chief executive Paul Bulcke acknowledged in the earnings statement. In 2013, the Swiss company saw its net profit tick in at 10 billion Swiss francs ($11.2 billion, 8.1 billion euros), down from 10.2 billion a year earlier.

Nestle says will detail share buyback when L'Oreal deal closes

VEVEY, Switzerland (Reuters) - Nestle <NESN.VX> will disclose details of a planned share buyback when the sale of an 8 percent share in L'Oreal <OREP.PA> closes, its chief financial officer told investors on Thursday. Nestle said on Tuesday it was reducing its stake in L'Oreal <OREP.PA> to 23 percent, adding it wanted to use part of the proceeds for a share buyback. It didn't communicate details then, nor at its full-year results conference on Thursday.

Nestle cuts stake in L'Oreal, but staying for 'long haul'

By Astrid Wendlandt and Pascale Denis PARIS (Reuters) - Swiss food group Nestle <NESN.VX> is selling an 8 percent stake in L'Oreal <OREP.PA> to the French cosmetics firm for 6.5 billion euros ($9 billion), loosening their 40-year partnership and allowing both firms to boost earnings per share. However, Nestle said on Tuesday it remained committed to the maker of Garnier shampoo and Lancome creams for the "long haul", dampening speculation it might sell its remaining 23 percent stake anytime soon.

Nestle drops control option over cosmetics beauty L'Oreal

Swiss food giant Nestle is to sell a chunk of its shares in French cosmetics giant L'Oreal, the firms said on Tuesday, in a signal that Nestle has dropped the option of a takeover. L'Oreal is to buyback a stake of 8.0 percent from Nestle which currently owns 29.4 percent. The biggest L'Oreal shareholder is the daughter of the founder, 91-year-old Liliane Bettencourt. The family holds 30.6 percent. There were deep concerns in French government circles that the Bettencourt family could pass control to the Swiss group.

Deal is not first step towards L'Oreal's exit: Nestle

PARIS (Reuters) - The deal under which Nestle <NESN.VX> will cut its stake in L'Oreal <OREP.PA> does not pave the way towards a full Nestle's exit from the capital of the French cosmetics group, Nestle's chairman Peter Brabeck said on Tuesday. "This sale is not a first step towards an exit" Brabeck told a news conference. On Tuesday, L'Oreal said it would buy 8 percent of its capital for 6.5 billion euros ($9 billion) from Nestle, boosting the French cosmetics group's earnings per share by more than 5 percent.

L'Oreal's stake is financial and strategic: Nestle

PARIS (Reuters) - Nestle's <NESN.VS> stake in French cosmetics group L'Oreal <OREP.PA> is both financial and strategic, Nestle's chairman Peter Brabeck said on Tuesday. "Nestle's stake is financial as well as strategic long-term," Brabeck told a news conference. Earlier on Tuesday, L'Oreal said it would buy 8 percent of its capital for 6.5 billion euros ($9 billion) from Nestle, boosting the French cosmetics group's earnings per share by more than 5 percent.

Nestle looking at options to reduce L'Oreal stake: Bloomberg

ZURICH (Reuters) - Nestle <NESN.VX>, the world's biggest food company, is looking at ways to reduce its $30 billion stake in cosmetics firm L'Oreal <OREP.PA>, Bloomberg reported on Saturday, citing sources with knowledge of the matter. Nestle has told L'Oreal of its intentions, and the two companies have discussed the issue with banks, though no decision over the possible timing of any sale, which could take years, has been made, the report said.
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