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Unilever Net Falls as Shoppers Buy Cheaper

Stock quotes in this article: UL  

Updated from 2:29 a.m. EDT

Consumer goods maker Unilever (UL Quote) said first-quarter earnings fell to 803 million euros ($1.1 billion) as shoppers in Western Europe reached for cheaper brands.

Sales fell 1% in the quarter to 9.5 billion euros, the maker of Lipton teas and Knorr soups said in a statement Thursday.

Unilever said underlying sales growth in the quarter was 4.8%, with 6.8% coming from carry-over pricing and volumes lower by 1.8%. ...

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