Danone tries to revitalise European business
The French food giant has seen sales suffer in southern Europe and is cutting costs to "win back its edge" in the market.
Danone is to cut EUR200m in costs from its European operations in a bid to "win back its competitive edge" in the region after falling sales.
French food giant Danone said it expects the same weaknesses it has seen in its European dairy division this quarter to continue through into the fourth.
Danone's share price slid this morning (17 October) as third-quarter sales fell short of market expectations, with declining revenue in Spain and Italy weighing on group revenues.
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