Nestle will push sales of its products to consumers directly via its own online channels, or direct to consumer, Nestle CEO Mark Schneider said, building on the success of Nespresso coffee pods and Purina PetCare, which are increasingly being sold directly to consumers via Nespresso.com and Purina.co.uk. "We plan to take (e-commerce) sales from about 13% in 2020 to 25% by 2025," Bernard Meunier, head of Nestle's strategic business units and marketing and sales, said at a virtual investor summit. This will be achieved by increasing digital marketing investment to 70% by 2025 from 47% in 2020, Meunier added.
Jay Jandrain, Butterball CEO, tells Yahoo Finance that consumers can expect bigger birds and that turkeys will still be in supply for Thanksgiving despite inflation and supply chain challenges.
The company's revenue was $126.7 million, compared with only $1.4 million year over year, with most of the increase from collaboration revenue from Seres' co-commercialization license agreement with Nestlé Health Science. The improved financial numbers were only part of the story. On Wednesday, Seres said it had established a collaboration with Swiss pharmaceutical company Bacthera to manufacture SER-109, Seres' lead therapy to treat recurrent Clostridioides difficle infection (rCDI).