Nestle

Two of the largest quick commerce platforms–Zomato-owned Blinkit and Mumbai-based upstart Zepto--are fast entering ecommerce territory and are set to add several categories like fashion, beauty, electronics, toys, home and kitchen among other segments. Meanwhile, Zepto, the first unicorn of 2023, has hit $1 billion in annualised gross sales as of the latest numbers, people aware of the matter said. These platforms will add thousands of new SKUs in the next two months, taking the number to over 10,000 as they see consumers…

Nestlé Nigeria reported that its liabilities loomed past assets by N78.1 billion (13.4 per cent) last year after a free slide in the value of the naira-stressed operations. The development threw the company into record loss, according to its audited accounts published on Wednesday. Total liabilities for 2023 accelerated to N659.8 billion from N384.8 billion a year ago in reaction to a monumental surge in foreign exchange loss. Fellow multinational PZ Cussons Nigeria made a disclosure of a similar nature last…

Nestle reported full-year earnings and sales that were just shy of expectations, and cautioned that sales growth will moderate this year as higher prices force shoppers to ease spending. Nestle reported full-year earnings and sales that were just shy of expectations, and cautioned that sales growth will moderate this year as higher prices force shoppers to ease spending. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s…

Last week, Nigerian stocks reported their first weekly depreciation this year, dropping 2.5 per cent, as investors reaped accumulated gains on some stocks that have fairly appreciated. The market saw a lull in earnings releases during the week, allowing investors to absorb a flurry of corporate results that marked the two preceding weeks. Even though the bulk of financial results have been issued, there are strong indicators that the market is yet to see possibly its biggest driver this quarter. Heavyweights like…

A breakup over grocery prices got messier Monday when PepsiCo said that it, not supermarket chain Carrefour, initiated the split. PepsiCo said that it had decided to stop supplying the chain’s European stores because the two sides hadn’t reached an agreement on a new contract. Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 A breakup over grocery prices got messier Monday when PepsiCo said that it, not supermarket chain Carrefour, initiated the split. PepsiCo said…

The world’s largest packaged food company said price hikes boosted sales and profitability, joining other consumer goods companies. The world’s largest packaged food company said price hikes boosted sales and profitability, joining other consumer goods companies. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their…

Nestlé Nigeria Plc has announced the appointment of Namit Mishra as its finance and control director effective 1 August. Mr Mishra succeeds Sarmad Saleem, who is billed to step down from the position on 31 July. Mr Saleem has taken up the role of Head of finance and control for Nestlé Punna Petcare — Zone AOA. According to a notice by the company’s secretary, Bode Ayeku, the board acknowledged Mr Saleem’s contributions to the company since his appointment as the finance and control director of the Company 1 June…

The ‘Portrait of Edmond de Bellamy’ was produced by a generative adversarial network that was fed a data set of 15,000 portraits spanning six centuries.Image: Christie’s/PicrilMaybe AI-Written Scripts are a Bad Idea?Chloe Preece, ESCP Business School and Hafize Çelik, University of BathIs computational creativity possible? The recent hype around generative artificial intelligence (AI) tools such as ChatGPT, Midjourney, Dall-E and many others, raises new questions about whether creativity is a uniquely human skill. Some…

Hi, this is Pratik Bhakta in Bengaluru. On April 29, in ETtech Unwrapped's last edition, I wrote about how fintechs were facing the twin blows of a funding winter and heightened regulatory scrutiny. Today, I will look at another interesting angle: bank fintech partnerships and how regulations are playing a critical role here.The free run that Indian fintech founders had is a thing of the past. Not only has the regulator stepped in to check the speed of innovation, but banks are also looking to work only with regulated…

The video streaming business of Mukesh Ambani, Asia's richest person, is likely to focus on pricing and local content following a deal with Warner Bros as it seeks to challenge the likes of Disney and Netflix, industry sources said.Under the content deal announced on Thursday, popular series from HBO and Warner Bros, such as Harry Potter and Succession, will be available from next month on the JioCinema platform, which Ambani's Viacom18 has promoted for weeks by offering popular IPL cricket matches for free.A pricing…