- Nestle (NSRGY.PK) CEO Paul Bulcke told investors the company had completed a review of 97% of its 1,800 divisions and has a shortlist of businesses it will try to sell - "laggards it cannot fix," according to Bloomberg.
- Analysts have cited Jenny Craig, PowerBar, and Lean Cuisine as candidates for jettison.
- The move comes as Nestle delivered its weakest quarterly revenue growth in 4 years. Nestle fell yesterday after Unilever warned of a slowdown in emerging markets, which have been Nestle's main growth driver in the past.
- Bulcke also said he plans to limit capex spending to 4-5% versus the previously forecast 5.7%: "Over the last three or four years we have increased our capex quite extensively ... We now want to sweat those assets."