date:Aug 09, 2013
Nestle, the world's biggest food group, missed first-half sales forecasts and trimmed its 2013 target on Thursday after it cut some prices in Europe in a bid to lure recession-hit shoppers.
The figures suggested a sharp slowdown in second-quarter sales growth - to the lowest rate in over three years, according to analysts - and that a reduction in some prices due to lower commodity costs had yet to tempt Europeans to spend more.
The Swiss maker of KitKat chocolate bars and Nescafe coffee also