Purina starts 2024 with fewer sales but maintains yearly guidance

Nestlé’s pet portfolio posted CHF 4.59 billion ($5.02B/€4.69B) in sales between January and March 2024, a 0.4% decline. Purina hit sales of CHF 4.69 billion ($5.13B/€4.79B) in Q1 2023. 

The company says Purina was the largest growth contributor in North America thanks to its “broad-based demand,” mostly online. Purina One, Felix and Gourmet brands were key drivers in Europe.

Pet products grew at a double-digit rate in China, boosted by the launch of new products and the “strong” e-commerce momentum, while in Latin America, the category saw a low single-digit growth.

Global sales for Nestlé stood at CHF 22.1 billion ($24.2B/€22.57B) in Q1 2024, a decrease of 5.9%. The company highlighted that the group’s organic sales growth was driven by Europe and emerging markets, with a negative impact from North America.

Minor impact of inflation

The overall price increase for Nestlé products across all sectors was 3.7% in the first 3 months of 2024. Prices in water and confectionery (both 5.9%) and pet products (4.7%) increased more than average.

Between January and March 2023, pet products registered a price increase of 12.2%.

2024 outlook confirmed

CEO Mark Schneider admitted they were already expecting a “slow start” to the year but showed optimism for the second quarter of 2024.

“Nestlé’s top priorities remain to execute with excellence, leverage our science and nutrition expertise and drive growth with our billionaire brands. We reiterate our 2024 guidance and look ahead with confidence,” he says. 

The multinational forecast organic sales growth of around 4% for 2024. Sales in 2023 accounted for CHF 93 billion ($105.61B/€97.53B), a decrease of 1.5%.