Nestlé Reports Drop in Sales Amid Overhaul

Nestlé reported a drop in sales for the first quarter, as its new Chief Executive Philipp Navratil continues to undertake a sweeping overhaul of the food company’s structure.

- By Aimee Look

The maker of KitKat chocolate bars and Nescafe coffee reported a 5.7% drop in sales to 21.32 billion Swiss francs, or $27.17 billion. Nestlé’s reported sales beat company-compiled analyst expectations of 21.27 billion Swiss francs.