Nestle posted on Thursday a drop in annual net profit for 2024 but the Swiss food giant's sales were better than expected by analysts.
The group, which makes Nespresso capsules, KitKat chocolate and Purina dog food, said sales fell 1.8 per cent to 91.3 billion Swiss francs (£80.3bn).
Analysts surveyed by Swiss financial news agency AWP had forecast sales of 91 billion francs.
Its profit after tax was down 2.9 per cent to 10.9 billion francs, lower than the 11 billion francs estimated by analysts.
Nestle said organic growth - a closely-watched sales metric that excludes currency fluctuations and acquisitions - reached 2.2 per cent, better than the two-percent forecast by the group.
Growth strengthened during the year, led by coffee, confectionery and PetCare; by geography, growth was driven by emerging markets and Europe.
Nestle's shares have slumped in the past year as the group raised prices to cope with high inflation across major markets.
"In a challenging macroeconomic context and soft consumer environment, we achieved a solid performance in 2024 in line with our latest guidance," chief executive Laurent Freixe said in a statement.
Freixe took over in September in a surprise change at the top of the Swiss group, whose products range from food to water to health care nutrition.
A company veteran who headed the Latin America division before his promotion, Freixe was given the task of reviving Nestle sales.
Legal tobacco sales have nearly halved since 2021 despite little change in the number of smokers, a recent report has shown, highlighting the scale of “out of control” illegally smuggled tobacco in the UK.
The number of cigarettes bought on the legal market fell by 45.5 per cent between 2021 and 2024 while over the same period the number of smokers declined by just 0.5 per cent.
According to the Institute of Economic Affairs, the only plausible explanation for this can be a rapid growth in tobacco sales on the black market.
Dr Christopher Snowdon said, "Official figures recently published by HMRC indicate a huge rise in illicit tobacco sales in the UK since 2021.
"The number of duty-paid cigarettes sold plummeted from 23.6 billion in 2021 to 13.2 billion in 2024, a decline of 44.4 per cent. In the same period, sales of duty-paid hand rolling tobacco (HRT) have dropped from 8.6 million kilograms to 4.5 million kilograms, a decline of 47.6 per cent.
"Overall, the number of cigarettes bought on the legal market fell by 45.5 per cent between 2021 and 2024.
"This unprecedented decline in legal tobacco sales occurred despite the number of smokers falling only modestly. When population growth is taken into account, the number of smokers declined by just 0.5 percentage points between 2021 and 2024, a relative decline of 5 per cent.
"Nor can the decline in legal sales be explained by smokers consuming fewer cigarettes. Research published last year found that daily cigarette consumption has remained stable since 2020 at around 10.5 cigarettes per smoker on average.”
Dr Snowden added, “The only plausible explanation for the collapse in legal tobacco sales is that there has been rapid growth in tobacco sales on the black market.
“These figures should act as a wake-up call to the government. Official estimates of the tobacco tax gap lack all credibility. It is clear that the illicit trade in Britain is very large and has grown dramatically since 2021.”
Grocers are set to benefit on Mother's Day this year as more consumers are expected to have a special meal at home, states a recent report, adding that spending on Mother’s Day is set to reach £2.4 billion in 2025.
According to GlobalData Retail Mother’s Day Intentions Report 2025, the proportion of UK consumers planning to purchase at least one item for Mother’s Day 2025 has risen to 56.4 per cent, a 2.9ppt increase on 2024.
Grocers will benefit from decreased interest in takeaways and dining out this year. 17.5 per cent of Mother’s Day shoppers plan to have a special meal at home with mum, a 3.1ppt increase on 2024.
Dine-in options are crucial, given that Mother’s Day shoppers intend to spend £52.32 on average on food and drink for the event. There will be plenty of room in consumers’ budgets to trade up to premium ranges.
Furthermore, consumers plan to spend £17.43 more on their mums than last year, resulting in an average spend of £125.30. Gifting will be the most popular expense this year, with categories such as clothing, fine jewellery and watches and health and beauty among the most sought-after.
Eleanor Simpson-Gould, Senior Retail Analyst at GlobalData, comments, “Retailers should offer personalised gifting options, including customised clothing, bespoke jewellery pieces, and curated beauty gift sets.
"Providing unique and thoughtful gifts will appeal to the customers looking to make a special gesture on Mother's Day. Additionally, retailers must enhance the shopping experience by offering gift-wrapping services and convenient delivery options to make the process seamless for shoppers.”
Simpson-Gould adds. “The UK consumers are prioritising quality time at home with their mums this Mother’s Day, focusing on special meals, presenting a lucrative opportunity for grocers.
"Upselling opportunities include luxury wines, champagnes, confectionery, and premium meats, and grocers must focus on catering to these preferences to maximise sales potential.”
According to the report, 62.5 per cent of Gen Z consumers agree that “retailers do not do enough to provide gift inspiration.” This sentiment is far higher than that of their cohorts. Almost half of this age group plan to spend more on Mother’s Day this year.
Simpson-Gould concludes, “Retailers must engage with Gen Z shoppers on key social media platforms such as TikTok and Instagram to promote affordable Mother’s Day gift ideas, offering exclusive discounts and engaging content to attract budget-conscious shoppers.
"Next-day delivery options will be a significant draw for this age group. Given that 63.8 per cent of Gen Z shoppers agree they ‘tend to leave Mother’s Day shopping until the very last minute’ online retailers offering expedited delivery stand to benefit the most from the expenditure ahead of the event.”
Staff at a Bottesford store were threatened with a hammer during a brazen robbery last week, Leicestershire Police said.
The incident, which occurred just after 10:30 am on 12 March, saw a male suspect enter a shop on Grantham Road and brandish the weapon before jumping over the counter. He then proceeded to steal a quantity of cigarettes before fleeing the scene in a silver Volkswagen Tiguan.
No staff members were injured during the ordeal, police confirmed.
Detective Constable Gareth Pallister, leading the investigation, has appealed for witnesses and information.
“While we've already spoken to several people about this incident, I'm appealing to the wider public to identify the person responsible,” Pallister said.
“I'm particularly keen to speak to anyone who saw the silver Volkswagen around the time it happened – and particularly if you have any doorbell, CCTV or dashcam footage. Anything you're able to provide could assist the investigation.”
This violent incident underscores the growing threat faced by retail staff, a trend highlighted in the recently released 2025 ACS Crime Report.
The report, published last week by the Association of Convenience Stores (ACS), revealed a record level of theft against convenience store retailers, with an estimated 6.2 million shop theft incidents in the past year, up from 5.6 million the year before.
The report also detailed over 59,000 incidents of violence and 1.2 million instances of verbal abuse in the sector.
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Vape products are displayed for sale on October 27, 2024 in London, England
Heavily criticising the upcoming disposable vape ban, traders in Wes Streeting's constituency of Ilford North have raised the concern that the new law will hurt small businesses and will backfire badly as the product will be available illegally even after the ban.
According to a recent survey by We Vape, 95 per cent of UK traders believe the ban will hurt small businesses.
Some 80 per cent also believe shopkeepers will continue to sell illegal vapes after the disposables ban is enforced on June 1 and certain flavours are prohibited as part of the Tobacco and Vapes Bill currently working its way through parliament.
The survey, commissioned by campaign group We Vape, targeted over 800 independent traders and franchises via industry and trade fair WhatsApp groups to gather their views on the forthcoming Tobacco and Vapes Bill and its implications for small businesses.
The poll showed 98 per cent did not support a ban on e-liquid flavours, while 57 per cent knew of shops already selling illegal products.
Business owners were asked 'with the introduction of a vape tax and proposed flavour restrictions, do you think there will be less people visiting your shop to buy vapes?', with 93 per cent answering 'yes'.
The poll also revealed 97 per cent thought restricting vapes would lead to an increase in cigarette use. When asked if 'vapers will try and source illegal vapes as a result of the proposed restrictions?', 96 per cent said yes.
With 167 company responses, the data is considered the most comprehensive retailer research of its kind into government plans to create a smoke-free generation.
Gurdeep Chahal, owner of Somerville Convenience Store, said the disposable vape ban could force his shop to close.
"The bill is only going to make the problem of illicit products worse here and I can't believe my own MP is pushing something that could put me out of business," reported quoted Chahal as saying.
"It's handing the sale of cigarettes to criminals and is going to make it harder for my customers to move to smoke-free products.'
After 45 years of dedicated service to the Brookeborough community, independent retailer Benny McClave is retiring from his beloved Nisa store.
A fixture of the village in Northern Ireland, ‘Benny’s Shop’ has been more than just a convenience store - it has been a cornerstone of the community, a place where friendships were formed, and countless memories were made.
Originally from Roslea, Benny took over the shop in 1978 and spent a year renovating it before opening in 1979. Over the years, the store evolved through different fascias before joining Nisa, but its commitment to the local community never wavered.
Reflecting on his time behind the counter, Benny said: “It took me a long time to get to know people and their faces, and I suppose it took them a long time to get to know me too.”
Throughout his career, Benny has been much more than a retailer. He has been a steadfast supporter of local causes, regularly donating to schools and community projects.
One of his most cherished contributions was organising Santa’s annual visit to the store, a tradition that brought joy to generations of children.
With Santa arriving on a trailer to hand out gifts, and adults treated to a warm bowl of soup, it became a highlight of the festive season. Even after the disruption caused by COVID-19, Benny’s legacy endured, with the local playgroup taking on the responsibility of continuing the tradition.
Benny, who handed over the store on Friday, 7 March 2025, acknowledged that saying goodbye was not easy.
“Of course, I will miss it,” he said. “I’ll miss the company and the pleasure of serving the customers. It’s been a lifetime - 45 years - I’m bound to miss it.”
Nigel Maxwell, Regional Retail Manager in Northern Ireland for Nisa, paid tribute to Benny’s incredible contribution: “Benny is the definition of a true community retailer.
"For 45 years, he has served Brookeborough with dedication, kindness, and a wonderful sense of humour. His generosity and commitment to local causes have made a lasting impact, and he will be greatly missed by customers, colleagues, and the wider Nisa family.
"We wish him all the best in his well-earned retirement. Although Benny is stepping away from the shop, he and his family will remain in Brookeborough, a place he fondly refers to as home.
"As he hands over the reins, the entire community celebrates the remarkable career of a man who truly made a difference.