Nestle dangles jobs everywhere it goes, though we’ve long questioned the veracity of their job claims.
Now we don’t have to; Nestle’s bottled water division’s sales fell a startling 3% (according to the WSJ, it’s the second straight period of decline).
Nestle SA, the world’s largest food and beverage group, reported on Wednesday a 3% drop in its first-half profit as it missed sales forecasts and trimmed its outlook, according to MarketWatch.
The company’s weakest segment? Its water division, which is responsible for about 10% of the company’s total sales, and includes brands such as Perrier and San Pellegrino. Sales contracted about 3% in the division, the second straight period of decline.
I don’t yet have numbers for Nestle’s North American bottled water division, but the trend is clear.
And while Nestle still largely maintains the contraction is due entirely to the economy and not environmental concerns, I’d suggest that’s more wishful thinking than reality.
So those jobs again: How safe are they really?