A sales warning from one of the world’s biggest consumer goods companies is undermining hopes for a significantly stronger global economy in 2020.
Unilever, which owns brands including Dove and Ben & Jerry’s, said Tuesday that it won’t meet its sales growth target for 2019, and warned that weakness will continue into next year. The company’s products are sold in 190 countries.
Unilever (UL) blamed the weaker forecasts on an economic slowdown in South Asia, one of its largest markets, and difficult business conditions in West Africa and North America. Unilever (UL) shares lost more than 6% in London.