July 30, 2020 / 9:39 AM / in 11 days

Nestle CEO says 2020 guidance should reassure investors

FILE PHOTO: Nestle Chief Executive Mark Schneider talks during a news conference at the company headquarters in Vevey, Switzerland, February 13, 2020. REUTERS/Pierre Albouy

ZURICH (Reuters) - Nestle decided to give sales guidance for 2-3% underlying growth this year in order not to leave investors guessing, Chief Executive Mark Schneider told Reuters in a telephone interview on Thursday.

“We now have a much better understanding of how COVID-19 affects our business,” Schneider said, adding the company’s previous guidance in April had excluded the COVID impact and thus could not be compared to the new outlook.

Reporting by Silke Koltrowitz; Editing by Michael Shields

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