Unilever sales weaken in Europe but grow in emerging markets
Unilever says cheaper supermarket own brands are hurting it in Europe.
Unilever, which makes Hellmann's, Knorr, Omo, Dove and Axe, saw sales in Europe weaken last quarter. Its growth came mainly from emerging markets such as India, Brazil and Indonesia.
Chief executive Fernando Fernandez spoke about Europe as he presented the quarterly results. "Europe is difficult. We suffer a lot from cheaper private-label brands," he said.
Fernandez said he expects to be able to raise prices in the US and Europe in the period ahead. Unilever faces rising raw material costs and wants to pass at least part of them on to its customers.