Dive Brief:
- Unilever reported a 3.8% rise in sales growth, well below the 4.3% increase that analysts had forecast.
- The company, which makes Lipton tea, Dove Soap, Hellmann's Mayonnaise, Vaseline, and a slew of other brands singled out a continuing slowdown in Asian markets for the poor performance.
- Also taking the blame was Unilever's food business. Sales in food grew just 0.7% -- well below the 6.2% rise seen in home care/laundry and the 4.5% boost in personal care.
Dive Insight:
If there's anything to be learned from Unilever's most-recent earnings report, it's that the company sees no way to salvage most of its food businesses.
Stagnating sales like these, combined with the company's often-repeated promises to sell off brands, suggest that other brands will soon join depart, just like Slim Fast, Ragu, and Bertolli earlier this year.