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“Europe performance is strictly inline with that of the previous quarter, with that of Q3 2012, which is confirming that there is no deterioration of our performance in this part of the world, but also not showing improvements at this stage yet.”
“[our priority] in North America in the CIS and emerging markets [is] to keep building our categories and brands. They are growing at a very strong and healthy pace and we basically keep building this performance quarter-after-quarter.”
“On the Chinese [baby category]…the fundamentals is that this market which has been extremely strong…keeps being extremely strong in terms of value growth and perhaps even stronger…there is not only no sign of weakening of the demand but on the contrary we see signs of strengthening of the demand.”
“if you look at the Chinese market, there has been in the past one year, two years, three years, four years…[there have been regular reminders]…that the conditions for safety are not fully stabilized in this country. And therefore the need of the consumer for safety remains extremely strong.”
“In fact, it’s a combination of need of the consumer for safety on the one hand and need of consumer for changing up and for getting the best for their child and this basically pushing the whole things up and it’s probably as we talk to the testing lack of capacity for product which will be premium enough for the Chinese consumer.”
“On the Europe Dairy category, there are places where the category remains negative and this is the case of Spain, this is the case of Italy, this is the case of Poland for instance and there are markets where the category remains either slightly positive or flattish. This will be the case of France and Germany and this is really – I am really talking about the category. So there is basically no real change versus what we saw in the previous quarter.”
“we had at the beginning of the year taken the assumption that food cost would be increasing low to mid single-digits…it is slightly worse than what we had assumed. But in fact it’s within the range we had taken as an assumption. So it remains consistent with our guidance. We know that will have a bit of additional cost inflation to absorb. But we feel we can live with it.”