# KitKat sweetens Nestle sales with Easter, Valentine’s Day comeback Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2023-04-25 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: Nestle's KitKat boosts candy sales with Easter, Meta Description: Nestle's KitKat candy business thrived during Valentine's Day and Easter, driving confectionary sales growth despite challenges. Learn more here. URL: https://financedigest.com/kitkat-sweetens-nestle-sales-with-easter-valentines-day-comebackhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2023-04-25t073600z1lynxmpej3o080rtroptp4nestle-results-candy-1736814103792-compressed.jpg) # KitKat sweetens Nestle sales with Easter, Valentine’s Day comeback By Richa Naidu LONDON (Reuters) – In a quarter that saw Nestle’s overall sales volumes dip, the KitKat maker’s candy business was a sweet spot as consumers celebrated Valentine’s Day and an early Easter with largely reduced concerns over the spread of COVID-19. Confectionary sales volumes – which Nestle calls real internal growth – grew about 6% even as most other units’ sales declined. Nestle, which also sells Smarties and Quality Street chocolates, [hiked prices sharply by 7.6% to drive organic confectionary sales](https://www.financedigest.com/kraft-heinz-plans-more-price-hikes-as-sales-earnings-beat-estimates.html "Kraft Heinz plans more price hikes as sales, earnings beat estimates") up by 13.5%. Omicron last year probably weighed on seasonal [sales of confectionary around Valentine’s Day,” Bernstein analyst Bruno Monteyne said, adding that Easter was one week earlier this year, pulling more sales of Nestle’s candy eggs into the first quarter](https://www.financedigest.com/uk-new-car-sales-up-by-nearly-a-quarter-in-october-smmt.html "UK new car sales up by nearly a quarter in October – SMMT"). The company on Tuesday reported earnings and sales growth as it raised [prices to offset higher commodities and supply](https://www.financedigest.com/oil-prices-steady-on-uncertain-global-outlook-and-supply-concerns.html "Oil prices steady on uncertain global outlook and supply concerns") chain costs. Inflation and a cost-of-living [crisis prompted by higher energy](https://www.financedigest.com/germans-told-to-unite-over-energy-crisis-amid-eu-divisions.html "Germans told to unite over energy crisis amid EU divisions") costs have hurt sales volumes in most categories across the industry. But candy and other items like cosmetics and alcohol tend to be resilient in [times of economic downturn due to a phenomenon called the “lipstick effect”](https://www.financedigest.com/how-can-financial-services-companies-compete-more-effectively-in-times-of-uncertainty.html "How can Financial Services Companies compete more effectively in times of uncertainty?"), where shoppers buy themselves small, special treats instead of big-ticket items. Nestle, the owner of the Milkybar and Aero candy brands, said confectionery in Canada, Europe and the Asia-Oceania-Africa [region recorded double-digit growth](https://www.financedigest.com/renal-cyst-treatment-market-covid-19-industry-analysis-future-trends-opportunity-growth-regional-outlook-and-forecast-2028.html "Renal Cyst Treatment Market COVID-19 Industry Analysis, Future Trends, Opportunity Growth, Regional Outlook and Forecast 2028"), led by KitKat and in some cases, seasonal products. In [Latin America](https://www.financedigest.com/latin-america-automotive-hvac-market-size-share-growth-trends-and-forecast-analysis-to-2020.html "Latin America Automotive HVAC Market Size, Share, Growth Trends, and Forecast Analysis to 2020"), confectionery was the largest growth contributor to sales, driven by KitKat and seasonal products. ($1 = 0.8871 Swiss francs) (Reporting by Richa Naidu; Editing by Bernadette Baum) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---