Breaking News

Unilever Cuts 2003

November 14, 2005

Unilever revised its 2003 sales growth estimates due to competition in the U.S. laundry and personal care market and a weak consumer goods market internationally.
Company executives said sales of its leading brands are expected to grow only 3% in the second quarter and 4% for the entire year. In response to the news, the company’s stock sank 11%.
Previously, investors trusted in Unilever’s Path to Growth agenda, a five-year restructuring plan the company introduced in 1999. According to the Path to Growth plan, Unilever’s brands would get a boost from 2% to 4-6% this year and in 2004, with operating margins over 16%.
In the process, Unilever has sold low-growth businesses and acquired new segments, including Bestfoods, SlimFast and Ben & Jerry’s ice cream.
“We have yet to convince the market about the sustainability of our im-proved performance,” said Howard Green, investor relations chief, in response to the news that Unilever’s stock had gone down. “That continues to be our challenge.”

  • It’s Magic!

    It’s Magic!

    Melissa Meisel, Associate Editor||March 20, 2017
    Argan oil-infused ‘Moroccan’ lip care brand jumps from WholeFoods into CVS.

  • On the Cutler Edge

    On the Cutler Edge

    Melissa Meisel, Associate Editor||March 13, 2017
    Top brand source at Redken forecasts up-to-the-minute hair trends.

  • Take The Hint

    Take The Hint

    Christine Esposito, Associate Editor||March 13, 2017
    Water brand forays into sun protection by capitalizing on scent and experience.

  • Supply-Side Innovations

    Supply-Side Innovations

    Tom Branna, Editorial Director||March 1, 2017
    Raw material suppliers roll up their sleeves and roll out their new products for the global cleaning industry.

  • New Faces in Familiar Places

    New Faces in Familiar Places

    Tom Branna, Editorial Director||March 1, 2017
    The American Cleaning Institute officially welcomed its new president.

  • Special Delivery

    Special Delivery

    Tom Branna, Editorial Director||March 1, 2017
    UV protection is important, but what good is that sunscreen if consumers won’t apply it?