CEO Laurent Freixe, who took the helm in September after the surprise ouster of Mark Schneider, is seeking to reignite growth by boosting advertising spending and betting on fewer but bigger product initiatives. The company previously announced a 2.5 billion-Swiss franc ($3.97 billion) cost-cutting plan to free up resources to help drive growth.
Nestle's sales rose as the maker of Nespresso and KitKat candy bars increased prices to counter soaring costs for coffee and cocoa.
Revenue grew 2.8% on an organic basis in the first quarter, the Swiss foodmaker said Thursday, above the 2.6% average estimate of analysts. The bulk of the increase came from price hikes, while its real internal growth - a measure of volumes - rose at a slower pace.
