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Swiss food giant Nestle is seeing the opposite reaction to the positivity on consumer goods rival Unilever today, with its shares falling the lowest levels since 2020 in Switzerland.

Weakness in the company’s growth had been anticipated but there were no signs of any improvement emerging, which had been seen in the reporting from some of Nestle’s rivals.

The North American business for the Nespresso and Haagen-Dazs owner saw demand slip, while supply constraints hit its vitamin unit.

Our colleague Dasha Afanasieva also points out that the results from Unilever, and from Reckitt and Danone earlier in the week, indicated that consumers are starting to move back to name-brand items. Nestle, however, seems to be missing out on that.