Food manufacturer Danone has lowered its sales forecast. The French company is struggling with stiff sales of yogurt in the United States and bottled water in Europe.
Comparable sales grew 3 percent in the past quarter. That was less than what analysts had expected. For the entire year, the French concern now expects 2.5 to 3 percent growth. The turnover target for 2020 remains intact.
The setbacks were mainly due to declining sales of yoghurt products and vegetable alternatives in the US. Danone also suffered from competition in Russia. In Europe, the yoghurt branch was still doing well, but the water sales were disappointing. This was partly because last August was less hot than a year earlier.