LONDON — Unilever, whose products range from ice cream to shampoo, reported a 6.5 percent drop in third-quarter revenue to 12.5 billion euros, or $16.5 billion. The company cited a negative currency impact of 8.5 percent and a lack of improvement in the company's North American and European markets.
Unilever said underlying sales growth was 3.2 percent, fueled by emerging markets, which rose 5.9 percent. However, overall growth slowed from 5 percent in the second quarter, and 4.9 percent in the first.
"Emerging markets continue to be the main driver of our growth and, despite the current slowdown, they remain a significant growth opportunity which the company is well-placed to capitalize on," said Paul Polman, Unilever's chief executive officer. "We have not yet seen an improvement in market conditions in North America or Europe."
The company said its hair category performed well, with Clear delivering double-digit growth and TRESemmé making good progress in new markets such as India and Indonesia. Unilever continues to launch Toni&Guy into new markets, including the U.S.
In skin care, Unilever said growth was driven by strong performances by Dove and Lifebuoy, while the improved Dove NutriumMoisture shower gels "delivered strong results."
In the nine months, revenues dropped 2 percent to 38 billion euros, or $50.2 billion, with a negative impact of 5 percent from foreign exchange rates.
Dollar rates have been calculated at average exchange rates for the periods in question.
The company's shares were down 0.7 percent to 28.79 euros at 9.10 a.m. CET.
Peter Kim's Los Angeles-based premium denim line has always had its finger on the pulse of youth. This season, novelty is back in a way reminiscent of early Aughts, with studs, lace-ups, racing waxed denim and more. For more highlights if some of the key brands at the Vegas trade shows, go to WWD.com. #wwdfashion (📷: Patrick Gray; Styled by @thealexbadia; Story by @karihamanaka and @marcy_wwd)
"I was driving back on Saturday afternoon from the beach, and I just saw this sign saying 'Skydiving for $95.' And I was like, I can't not sky dive for $95," says Tom Bateman about a moment in Hawaii while shooting "Snatched." #wwdeye (📷: @vsteves; Interview by @ktauer; Styled by @thealexbadia)