Oct 27 (Reuters) – German consumer goods maker Beiersdorf (BEIG.DE),marginally missed market expectations for third-quarter sales growth on Tuesday, as temporary weakness in sales to retailers weighed on its Nivea brand.
The company said organic sales were down 1.3% in the July-September period, slightly below a Vara consensus that projected a 1.2% fall.
Sales at its key Nivea brand fell 4.9% organically in the quarter. Still, Beiersdorf said momentum had improved from the second quarter, when the brand’s slower-than-expected recovery prompted a guidance cut, and reiterated its full-year outlook.”At NIVEA, our turnaround plan is progressing well,” Chief Executive Vincent Warnery said in a statement.
Reporting by Cian Muenster and Paolo Laudani in Gdansk; editing by Bartosz Dabrowski
