Unilever shake up as profit slips
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Anglo-Dutch consumer goods company Unilever will merge its two boards after reporting "unsatisfactory" earnings for 2004.
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British retailer Marks &amp; Spencer announced a shake-out of top management on Tuesday as it revealed that trading conditions had worsened, but did not issue a profit warning as investors had feared.
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Consumer goods giant Unilever Plc/NV reported underlying sales below analyst expectations on Thursday and gave a lackluster outlook for 2007, sending its shares lower.
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Unilever said it was unhappy with its results and promised &quot;urgent action&quot; to turn sales around yesterday after the consumer goods and food giant posted a 4 per cent fall in third-quarter sales.
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British retailer Marks and Spencer announced a major management shake-up as part of efforts to revive its fortunes, saying trading has become tougher ahead of the crucial Christmas period.
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Shares in Unilever fall after the Anglo-Dutch consumer goods giant issued a surprise profits warning.
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Consumer goods giant Unilever Plc/NV  topped forecasts with a 27 percent rise in 2006 earnings on Thursday and said it expected to deliver underlying sales growth within its target range this year.
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Patrick Cescau, the new chairman of Unilever, has launched a review into growth targets and reversed a cut in ad spending after an acceleration in the company&#39;s sales decline.
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Unilever has reported a three percent rise in third-quarter earnings but warned it is reviewing its targets up to 2010, after issuing a shock profits warning last month.
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Unilever PLC reported higher earnings for the third quarter Wednesday but said its business suffered from weak demand and poor weather, with sales of Ben & Jerry's ice cream and Lipton Tea falling.
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European stocks declined, led by food and beverage companies including Cadbury Schweppes Plc and Groupe Danone SA after Unilever, the world&#39;s largest maker of food and soap, cut its full-year earnings forecast.
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Unilever PLC reported higher earnings for the third quarter Wednesday but said its business suffered from strong competition, weak demand and poor weather, with sales of Ben &amp; Jerry&#39;s ice cream and Lipton Tea falling.
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Consumer goods giant Unilever Plc/NV  topped forecasts with a 27 percent rise in 2006 earnings on  Thursday, but its shares fell as analysts said its recovery  appeared slow as it lagged its major competitors.
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Unilever, the maker of Lipton tea and Magnum ice cream bars, said third-quarter earnings will fall and cut its annual profit forecast after sales of the company&#39;s main brands unexpectedly declined for a second quarter.
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Marks &amp; Spencer has announced a shake-out of top management after revealing a deterioration in trading conditions but it has not issued a profit warning the market had feared.
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Unilever NV, the maker of consumer products such as Dove soap, Ben & Jerry's ice cream and Lipton tea, on Thursday reported a sharp decline in its fourth-quarter profit compared with results a year ago fattened by a gain from selling a business. Its sales edged up.
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Cadbury Schweppes, the confectionery to soft drinks group, followed rivals such as Unilever and Coca-Cola yesterday in admitting the poor summer had taken its toll on its sales, knocking its shares.