Unilever revised forecast
This article was originally published in The Rose Sheet
Executive Summary
Company plans to "step up market activities and increase support investment behind a number of high quality innovation activities" in the Home and Personal Care and Foods divisions in Europe, Asia and North America in light of declining sales in those regions, Unilever reports in Sept. 20 trading update. Firm is revising full year earnings guidance to reflect low single-digit EPS growth, versus the previously forecast low double-digit growth, due to weak Home and Personal Care sales in Western Europe, "substantially" lower sales of ice cream and ready to drink tea in Northern Europe and "intense" competition in Asia in the hair care and laundry categories...