Some of Europe's biggest companies reported first quarter sales increases, with KitKat maker Nestle, Evian water owner Danone and Dulux paint maker Akzo Nobel all saying they had passed cost increases on to consumers. The big American airlines United Airlines Holdings and American Airlines Group reported that high fares have not dented demand for domestic travel. Rising interest rates and lagging pay deals are squeezing consumers, who are seeing their disposable incomes shrink and shopping bills rise. Nestle beat a 5.0pc average forecast for the sales measure that strips out currency swings and M&A deals in a company-compiled consensus thanks to price increases of 5.2pc. French peer Danone, whose products include Activia yoghurt and Evian water, said it was also ready for further rounds of price increases "if needed" after reporting a 7.1pc sales increase.

Source: Irish Independent April 22, 2022 03:09 UTC