Nestle intends to raise prices as inflation hurts profits, CNBC says

Nestle CEO Mark Schneider said the company intends to increase prices even more this year, after more expensive ingredients contributed to full year net profit missing Wall Street expectations, Reuters’ John Revill and Richa Naidu report. "Our gross margin is down about 260 basis points – that is massive. That is after all the pricing we have done in 2022," Schneider told reporters. Reference Link