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Beiersdorf Q3 sales growth slightly misses expectations as Nivea weighs
Oct 27 (Reuters) - German consumer goods maker Beiersdorf marginally missed market expectations for third-quarter sales growth on Tuesday, as temporary weakness in sales to retailers weighed on its Nivea brand.
The company said organic sales were down 1.3% in the July-September period, slightly below a Vara consensus that projected a 1.2% fall.
Sales at its key Nivea brand fell 4.9% organically in the quarter. Still, Beiersdorf said momentum had improved from the second quarter and reiterated its full-year outlook.
The figures offered fresh insight into the pace of Nivea's recovery, a key issue for investors after Beiersdorf cut its outlook in August amid weaker-than-expected demand.
"At NIVEA, our turnaround plan is progressing well," Chief Executive Vincent Warnery said in a statement.
Shares were down 2.5% in early Frankfurt trade as of 0730 GMT.
(Reporting by Cian Muenster and Paolo Laudani in Gdansk; editing by Bartosz Dabrowski)
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