Supply problems for Nestlé’s US dietary supplement brands “were more fundamental than initially we have estimated,” according to CEO Mark Schneider. Nestlé now expects the issue – first flagged up last year – won’t be fully resolved until the end of the first half of 2024.
Nestlé CEO Mark Schneider has conveyed his disappointment that supply chain problems impacting the firm’s vitamin, mineral and supplement sales in North America have not been resolved more quickly.
“I can only express my regrets,” he told the Swiss firm’s full year earnings call
C&D reports Q1 net sales dropped 2.4% to $1.48bn, below its guidance for around 1% growth. Its brands’ sales at retail and market share grew in the quarter, but “experienced slowing category growth in the US market” as retailers reduced inventory levels.
Herbalife expects little impact from increased tariffs on imports from China but strong boosts from acquiring Pro2col Health and Pruvit Ventures Inc. and 51% ownership of Link BioSciences.
Fragrance companies and suppliers can draft contracts that ensure the cost burden of tariffs is shared, says attorney David Morrell of law firm Jones Day, during a recent panel discussion, ‘Tariffs in Motion: Insight for the Fragrance Industry.”
