Unilever will conduct a review of its global tea business, including the PG Tips...
) UNc.AS will conduct a review of its global tea business, including the PG Tips and Lipton brands, in an apparent strategy rethink by Chief Executive Alan Jope in the face of slowing group sales growth.
Jope has previously said the company was invested in turning around the tea business over the longer term, but the change of plan could soothe concerns of investors who have lamented a lack of urgency in transforming Unilever’s struggling food and refreshment business. Pitkethly said tea is a good performer in emerging markets and in the premium category but all regions and all parts of the business would be considered for review. Options include a partial or full sale of the business, he said without giving a timeframe.
Unilever has been suffering elsewhere, too, with stuttering growth in India and China, two of its biggest emerging markets, while intense competition in North America and Europe has also hampered efforts to hit full-year growth targets.The food and refreshment business - which makes Lipton teas and Hellmann’s mayonnaise among others and contributes 40% to group sales - has been hit particularly hard in North America and Europe as consumers reach for healthier options.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Focus on 'Japanification' stirs BOJ talk of policy reviewRecent talk among major central banks on how to avoid 'Japanification'...
Read more »
Catherine Zeta-Jones shares photo of dining room – complete with tea and coffee pots written in WelshCatherine Zeta-Jones has given fans a glimpse inside her New York home, complete with a tribute to her Welsh heritage
Read more »
Top ETFs, investing strategies for 2020 from 300 global investors - Business InsiderA Wall Street firm surveyed 300 global investors on the state of ETFs today — and they revealed the 4 most attractive strategies right now
Read more »
Stocks slump on fears the Wuhan coronavirus will hammer global growth - Business Insider'If the coronavirus outbreak persists, the effects will be felt though global growth, trade and global value chains.'
Read more »
KFC Beyond fried chicken review: not quite chicken, but not bad - Business InsiderKFC's new Beyond fried chicken is not a perfect proxy for the real thing, but I found it definitely satisfies a chicken craving.
Read more »
7 Japanese Green Teas You Should Be Drinking Right NowHere, a guide to the best Japanese green teas to drink right now. Get the insider tips at Food & Wine.
Read more »