Nestle sees lower customer demand after hiking coffee and chocolate prices
The Swiss consumer group reported organic growth of 2.9% over the first half of the year, compared with a year earlier.
It said this was driven by a 2.7% increase in pricing, while it saw real internal growth of 0.2%.
Nestle said confectionery prices rose by 10.6% over the quarter (Dominic Lipinski/PA)
This included a 3.3% increase in prices in the second quarter as sales volumes declined marginally amid pressure on customer finances.
The company said this came as it 'took actions to address input cost inflation in coffee and cocoa-related categories'.
Confectionery prices increased by 10.6% over the half-year, while coffee prices rose by 6%.
Sales volumes were only marginally higher over the quarter as Nestle reported 'lower consumer demand' as shoppers were 'adjusting to price increases'.
It came as Nestle also announced a review into the future of the vitamins business its previous boss bought in 2021.
The company has indicated it could sell off its mainstream vitamins and supplements division, which includes the Nature's Bounty and Puritan's Pride brands.
Laurent Freixe, Nestle chief executive, said: 'We are executing our strategy to accelerate performance and transform for the future.
'We are accelerating our category growth and improving our market share, through better execution and increased investment, funded through a relentless pursuit of efficiency.
'These actions are already delivering results, with broad-based growth and a robust profit performance in the first half.'
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Wales Online
2 hours ago
- Wales Online
How much every private school in Wales charges and their exam results compared
How much every private school in Wales charges and their exam results compared Some charge fees more than the average wage so what do private schools offer and what results do they get (Image: PA) With exam results days looming some people may be wondering whether paying for their child's education will mean better results. Inpedendent fee charging schools in Wales educate thousands of pupils from locally and around the world. They have been hit this year by new VAT payments which has led to some raising fees by thousands of pounds and some pupils leaving. Some private schools in Wales charge fees higher than the average wage, one charts their history back 800 years and all compete for custom in an ever more competitive world. Many run England series exams with number graded GCSEs and some a mixture of Wales and England run exams. They don't all run the Welsh Baccalaureate. Two schools run by the Cognita group have announced plans to shut at the end of next term blaming factors beyond their control as parents raise funds to save one of them. Some indepedent schools are owned by bigger groups and others go it alone. The leaders of St Gerard's School in Bangor made this warning about VAT which many say is an unfair burden. So how do these schools compare on price, results, ethos and size? Here we take look at exam results as well as fees charged and the education outlook schools takes. You can also compare the results with the all-Wales GCSE performance in summer 2024 and the all-Wales A level results 2024. Read the biggest stories in Wales first by signing up to our daily newsletter here St Michael's Llanelli St Michael's School, Llanelli is s currently The Sunday Times Welsh Independent School of the Decade (Image: St Michael's School, Llanelli) Based in Bryn, near Llanelli, this day and boarding school was, founded in 1923. It is currently The Sunday Times Welsh Independent School of the Decade and in 2024 was awarded The Telegraph Best Value for Money Independent School of the Year. Pupil number: 423 Type of school: Day and boarding for boys and girls from 3 to 18. Religious affiliation: Non-denominational Ethos: "Our ethos consists of five key points: An established heritage of academic excellence, Small enough to care, but big enough to challenge and inspire, Small enough to care, but big enough to challenge and inspire, a curriculum with a local emphasis, A home from home." Motto: Disce ut Vivas Fees: Day fees per term: £2,232 to £5,482. Full boarding fees per year from £12,005 Exam results summer 2024 A levels 86.6% of grades were A* or A 96.7% of grades were A*-B 99.5% of grades were A*-B. GCSE 69.9% of grades were A* or A 88.7% of grades were A*-B 97.4% of grades were A*-C St Michael's runs primarily Wales series GCSEs and A levels. Name of Principal / head: Benson Ferrari Open days coming up: 17th October 2025 Address and contact details: St. Michael's School, Bryn, Llanelli, SA14 9TU Rougemont School, Newport Rougemont School has 700 pupils and celebrates its centenary in 2026 (Image: Rougemont School) Rougemont School takes boys and girls from nursery to sixth form. Based in 90 acres of parkland on the outskirts of Newport the school will celebrate its centenary in 2026. Pupil number: 700 Type of school: Boarding and day for girls and boys Religious affiliation: non denominational Ethos: "We want every pupil to succeed. Success looks different to each individual and individuality is valued here at Rougemont. Motto: A school for life. Fees: From £3,281 to £6,860 a term. Exam results 2024 A levels 70% A*/B 43% A*/A GCSE 2024 24% A* 49% A*/A 49% 76% A*/B Rougemont offers GCSE, A level, EPQ and BTech exams Principal / head: Lisa Pritchard Open days: October 11 2025 and sixth form open evening September 23 2025. Address and contact details: Rougemont School, Llantarnam Hall, Malpas Road, Newport NP20 6QB 01633 820811 registrar@ Read more: Head of top Welsh independent school steps down after more than 30 years Read more: Teacher ditched stable job and home after health 'bombshell' to 'do something meaningful' Ruthin School Ruthin School is one of the oldest schools in the United Kingdom. It dates to 1284 and was founded after Edward I's conquest of Wales (Image: Ruthin School) Founded in 1284, Ruthin School takes 11 to 18 year-olds and is one of the oldest independent schools in the UK. Its distinctive Electives Programme — highlighted by Estyn — broadens opportunities beyond the classroom. Pupils come over 20 different nationalities. Pupil number: 240 aged 11–18, with a roughly equal split between day pupils and boarders. Type of school: Co‑educational, offering day, weekly/flexible boarding and full boarding. Religious affiliation: Non‑denominational Ethos: " strong academic focus sits at the heart of Ruthin School, supported by a broad, balanced curriculum and excellent pastoral care. We encourage a love of learning through high standards, modern traditions, and a nurturing community where every student can thrive." Motto Dei Gratia Sum Quod Sum – 'By the grace of God I am what I am' Fees 2025/2026 Day fees: Year 7 - 9 – £15,800 pa incl. VAT Year 10 & 11 – £17,500 pa incl. VAT Year 12 & 13 - £18,500 pa incl. VAT Full boarding fees: £45,690 plus 20% VAT - (£54,828 incl. VAT) Exam results summer 2024 A Levels 25% A* 60% A*/A GCSEs (England/Wales series): 25% grade 9 40% were grades 9–8 56% were grades 9–7 96% achieved grades 9–4 Ruthin School's GCSE and A Level results are from the England series qualifications, sat under English exam boards. The school does not currently offer the Welsh Baccalaureate or other alternative qualifications. Name of Principal: Frances King Open days coming up: Whole School Open Day October 4 2025 Address and contact details: Ruthin School, Mold Road, Ruthin, Denbighshire, LL15 1EE, Wales Tel: +44 (0)1824 702543 Kings's Monkton School, Cardiff Kings Monkton School in Cardiff (Image: Kings Monkton School) Kings Monkton School is based in the centre of Cardiff. It was founded in 1994 through the merger of two long-established schools—Monkton House (founded in 1870 by Henry Shewbrooks) and King's College. The school takes boys and girls from three to 18 and is owned by Paul Norton who has been principal since 2013. Maximum class size is 18. Pupil numbers: 294 Type: Day school. No boarding. Gender: Mixed Age range: Three to 18 Religious Affiliation: Non‑denominational Motto: 'Be the best you can be.' Ethos: "Our ethos is centred on fostering an inclusive, family-oriented community, underpinned by a happy, innovative, and exceptional learning environment. The foundation of our approach is built on three core values: inclusion, achievement, and choice. We place the highest value on pupil wellbeing." Fees £3,457–£5,453 per term (plus VAT) Exam Results – Summer 2024 A level 52% A* 70% A*/A. 76% A*–B GCSE 50% of grades A*/A 70% A*–B 90% A*–C Principal: Paul Norton with vice principle and head of nursery Mrs Karen Norton. Open days: Rather than holding traditional open‑days, the school offers personalised visits or virtual tours. Prospective parents/pupils are invited to schedule one‑on‑one tours and meetings. Address and contacts: Kings Monkton School, 6 West Grove, Cardiff, CF24 3XL Phone : 029 2048 2854 : 029 2048 2854 Email : mail@ and admissions@ : mail@ and admissions@ Website: S St Gerard's School Trust in Bangor was originally founded by nuns with just two pupils. More than a century later more than 100 boys and girls aged up to 18 attend. (Image: St Gerard's School Trust ) St Gerard's School was established by the Sisters of Mercy when they first came to Bangor in 1915. It started in a rented house with two pupils but soon grew rapidly. In 1917 the school moved onto its current site, rented from Lord Penrhyn by the sisters. After Lord Penrhyn's death in 1919, the sisters bought the site. When the nuns withdrew from providing independent education in 1990, a trust was established and the school got its first lay Head, Anne Parkinson. Pupil number: 101 currently Type of school: A day school for girls and boys Religious affiliation: St Gerard's says it "aims to create a Christian setting in which every young person has the opportunity to make the most of his or her individual gifts". Ethos: "Our aims both at the junior and senior schools are structured around creating a caring community that celebrates success promoting the development of creative, co-operative and independent learners." Fees: The school has only listed its fess fro 2024-25 which were as follows: Termly fees from £3,884 per term in year one to £5,936 per term for years 10 to 13. Exam results 2024 A level 60% A* or A* 96% A*-C GCSE 97% A*-C 58% A*/A Name of Principal / head: Campbell Harrison Open days: Open days are held regularly and promoted on the school's website. Address and contact details : St Gerard's School Trust, 3 Ffriddoedd Road, Bangor LL57 2EL. Tel: 01248 351656 The Cathedral School, Llandaff The Cathedral School, Llandaff was named in The Sunday Times Parent Power Guide 2025 as the Welsh Independent School of the Year for the second year running (Image: The Cathedral School, Llandaff) Founded in 1880 this co-educational day school in Cardiff takes pupils aged three to 18. In December 2024, The Cathedral School was named in The Sunday Times Parent Power Guide 2025 as the Welsh Independent School of the Year for the second year running. Number of pupils: 808 Type: Day Religious affiliation: Anglican Motto/Ethos: "There are five qualities and virtues that form the school ethos: Achievement, Care, Opportunity, Ambition and Leadership." Fees Exam results 2024 A Level 75% A*-A 75% 96% A*-B 96% GCSE (The school takes England's numbered GCSEs.) 8-9: 55% 7-9: 72% Headteacher: Clare Sherwood Address: Cardiff Rd, Cardiff CF5 2YH. Tel: 029 2056 3179 Haberdashers' Monmouth School Haberdasher's Monmouth Schools students celebrate their A level results in summer 2024 (Image: Desmond Pugh ) Haberdashers' Monmouth School has a 400-year history and takes girls and boys aged three to 18. It merged its two separate boys and girls schools last September to become one and has pupils from across the globe. Pupil number: 900 Type of school ie boarding/day/both girls/boys/both : co-ed day and boarding school for students aged 3 to 18. Religious affiliation: Protestant although all faiths are welcome. Ethos: "We emphasise a holistic education that combines academic excellence with a rich co-curricular programme that includes sports, performing arts, design, and sustainability initiatives. This approach aims to develop well-rounded individuals with confidence, purpose and the skills to thrive in a diverse and globalised world." Motto: N/A Fees: Fees for 2025-26 range from £12,564 a year in reception to £18,411 a year for day pupils in years three to six. For boarders in years three to six fees are £33,795 annually. Fees for day pupils in years seven to 13 are £26,256 rising to £50,649 for full boarding. Sixth form fees are dependent on external or internal entry and boarding but range up to £54,990 a year. Full and weekly boarding is available. Exam results summer 2024: GCSE (The school takes England's numbered GCSEs.) 51.5% 9-7 A level 69.3% A*-B The school uses a variety of exam boards including but not limited to: AQA, OCR, WJEC, Edexcel, Eduqas, Pearson, as well as BTECs, ILETS and Level 3s. Principal / head : Melvyn Roffe (incoming from Sept 25) Open days: October 4 2025, February 7 2026, May 16 2026. Sixth form open evenings October 9 2025 and January 29 2026. Address and contact details: Haberdashers' Monmouth School Almshouse Street, Monmouth, NP25 3XP. Tel: 01600 710 433 Email: admissions@ Article continues below
Reuters
a day ago
- Reuters
Dollar firms but on track for weekly loss after Trump's Fed governor pick
SINGAPORE/LONDON, Aug 8 (Reuters) - The dollar firmed slightly on Friday but was heading for a weekly fall as U.S. President Donald Trump's temporary choice for a fill-in Federal Reserve governor stoked expectations for a dovish pick to replace chair Jerome Powell when his term ends. The yen weakened 0.4% against the dollar to 147.740 yen. The dollar also rose 0.17% against the euro to $1.1645 and strengthened 0.2% against the Swiss franc to 0.8077 francs. As concerns over softening U.S. economic momentum, especially in the labour market, boost speculation of Fed rate cuts, the dollar was down 0.6% on the week so far, against a basket of peers. On the day the dollar index was up 0.27% at $98.239. Markets are focused on Trump's nomination of Council of Economic Advisers Chairman Stephen Miran to fill a newly vacant seat at the Fed, while the White House seeks a permanent occupant. Miran replaces Governor Adriana Kugler following her surprise resignation last week. "In many ways it reinforces what we already knew, which is that we're now looking at a much more political Fed and a much less independent Fed," said Michael Brown, senior research strategist at Pepperstone. Brown said that the news would contribute to his longer-term dollar bear case. "We're all expecting at the September FOMC and any meeting he joins after that that he'll (Miran) be very dovish and will be pushing for large rate cuts and that that will come effectively because the President has asked him to," said Brown. While investors remain worried about the U.S. central bank's independence and credibility after repeated criticism from Trump for not cutting interest rates, some analysts feel Miran's appointment is unlikely to have a material impact. "We still maintain that central bank independence is going to be very much intact," said Raisah Rasid, global market strategist at J.P. Morgan Asset Management in Singapore. She expects the central bank to focus on incoming data and the overall health of the U.S. economy. Trump's scathing attacks on Powell and the likelihood of a dovish pick as the next Fed chair have weighed on the dollar this week, although Trump recently backed off threats to oust Powell before his term ends on May 15. Fed Governor Christopher Waller, who voted for a rate cut in the Fed's last meeting, is emerging as a top candidate to be the next chair, Bloomberg News said on Thursday. Investor focus will now switch to next week's U.S. consumer price inflation data, with economists polled by Reuters expecting month-on-month core CPI to have nudged higher to 0.3% in July. The data will offer clues on whether tariff-driven price pressures are materialising and shape the Fed's policy path. Atlanta Fed president Raphael Bostic said on Thursday that while risks to the job market had increased, it remained too soon to commit to rate cuts, with more data lined up ahead of the Fed's policy review scheduled for September 16 and 17. Traders are pricing in a 93% chance of a U.S. rate cut in September, with at least two rate cuts priced in by the end of the year. The dollar has struggled broadly this year and is down 9.4% against a basket of major peers, as investors sought alternatives, worried over Trump's erratic trade policies. Analysts anticipate the dollar to remain under pressure but see the fall unlikely to be as steep. "We're looking for a bending but not breaking sort of scenario (on the dollar)," Rasid said. Sterling touched a fresh two-week high of $1.34515, clinging to Thursday's sharp gains when the Bank of England cut interest rates but only after a narrow 5-4 vote, showing a lack of conviction in its easing bias. The vote split "implies one of the most hawkish versions of a 25bp cut that reasonably could have been expected," analysts at Goldman Sachs said. The pound is on course for its best weekly performance since late June. "I think the pound is still benefitting from this, this re-assessment of the hawkishness of the BoE over the last couple of weeks," said Michael Pfister, FX analyst at Commerzbank. "They voted in June relatively closely for unchanged interest rates, so one could have expected that we would have seen another dovish vote (on Thursday), but in the end they surprised everyone."
Daily Mirror
2 days ago
- Daily Mirror
Nescafe slashes coffee jar size while keeping price exactly the same
Shoppers have been left furious after noticing the size of the Nescafé jars have been reduced while the price has remained the same, accusing the brand of "shrinkflation" Furious coffee drinkers are accusing Nescafé of quietly brewing up a 'shrinkflation scandal' after discovering their jars now contain less coffee for the same eye-watering price. The jars of Nescafé Original and Nescafé Decaf, which once held 200g of granules, have been reduced to 190g. Despite that 5 percent drop, they're still retailing for up to £7 a jar - and shoppers are fuming. That 10g loss means fans of the brand are missing out on six cups of coffee, with each jar now making 105 servings instead of 111, all while paying exactly the same. The smaller jars are already being advertised on Tesco's website as 'new products', a move that hasn't gone unnoticed by eagle-eyed customers. READ MORE: Aldi fans can now get a tattoo in stores that look like Specialbuys - full list 'I'm sure they think we're stupid,' said Rosie Cumbers, who spotted the switch. Same price, less coffee. How is that ok?' Others didn't hold back either. Shopper Lee Fretstone raged: 'Charged extortionate prices for less product. They're really taking the p**s.' But not everyone is outraged. Coffee lover Jess Leeman said that while the shrink felt sneaky, she still saw the value: 'Nearly spat out my £4.50 Costa! It's still 105 cups of coffee for £7, regardless of if they've removed 10g. 'Yet the same people who moan about this are probably then spending three quid a cup at Starbucks.' The move is the latest example of shrinkflation, where brands cut product sizes rather than raise prices outright. And Nescafé, owned by Swiss giant Nestlé, has faced similar criticism before. In 2022, the company quietly cut the size of its premium Azera tins from 100g to 95g, but held the price firm at £5.49 - a stealthy 11 percent increase in cost per gram. And it's not just the coffee aisle being trimmed. Nestlé also reduced the size of its iconic Purple One in Quality Street tubs last Christmas - down from 9.6g to 8.4g, a 12 percent drop in chocolatey goodness. Retail analytics firm Trolley found that Nescafé's 200g jars were being sold for £4.50 as recently as July 2023. That means shoppers are now paying around 55 percent more in just one year for less coffee. 'Shrinkflation is becoming endemic across UK supermarkets,' said a consumer rights analyst. 'It's a way of raising prices without most people noticing. Unfortunately, coffee is just the latest casualty.' Nestlé defended the changes, blaming rising costs in global coffee production. In a statement, the company said: 'Like every manufacturer, we have seen significant increases in the cost of coffee, making it much more expensive to manufacture our products. 'To maintain the same high quality and delicious taste that consumers know and love, it has sometimes been necessary to make adjustments to the weight or size of some.' The firm also added that retailers - not the brand itself - ultimately set the price at checkout.
