Nestlé Chief Says Firm Was Slow To React To Price Cuts

Nestlé CEO Paul Bulke has said in an interview with the Wall Street Journal that he believes the group was slow to react to aggressive pricing by competitors. Bulke stated that the firm should have 'engaged faster to counter these actions not just with pricing, but in being sharper in identifying the danger of it'. Rivals' price-cutting strategies contributed to Nestlé's third quarter results, when organic sales growth slowed to 3.6%, well below its long-term guidance of 5-6%. However, Bulke also suggested that the worst thing to do in a downturn was to 'start to react to short-term pressures and

To read the full article, please choose one of the following options: