Unilever’s second-quarter sales have undershot forecasts as the consumer goods group battled to lure back inflation-hit consumers with lower prices.
Consumer goods groups such as Unilever and Nestlé are struggling to build back sales volumes following a long-running cost of living crisis, and heavily leaning on discounting and promotions to boost sales.
Underlying sales growth at Unilever grew 3.9 per cent compared with an expected 4.2 per cent uplift. The maker of Magnum ice cream and Dove soap raised prices by only 1 per cent in the second quarter, well below a consensus estimate of 1.6 per cent.
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