Unilever second-quarter sales miss estimates hurt by rain in Europe [Reuters]
Unilever PLC (UL)
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Source: Reuters
Unilever second-quarter sales miss estimates hurt by rain in Europe - Reuters 2 Min Read (Reuters) - Consumer goods giant Unilever Plc ( ULVR.L ) UNc.AS reported slightly weaker-than-expected quarterly underlying sales growth on Thursday, hit by wet weather in Europe, but kept its full-year sales targets intact. The company said it continues to expect full-year underlying sales growth to be in the lower half of its multi-year 3% to 5% target range and operating margin to reach 20% in 2020. The maker of Dove soap and Ben & Jerry’s ice cream said underlying sales rose 3.5% in the second quarter, but that missed analysts’ average estimates of a 3.7% rise, according to a company-supplied consensus. Wet weather in Europe dampened ice-cream sales following two straight seasons of hot summers. Average rainfall across 12 European cities was three times higher in April and May than the prior year, while average hours of sunshine were down between 9 and 25 percent in the two months, a Jefferi
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