Unilever has announced a slow start to H2, blaming the weather in key markets.
The parent company of brands including Simple, VO5 and TRESemmé, reported that turnover decreased by 1.6% to €13.2bn in the third quarter.
Underlying revenue rose by just 2.6%, compared with the 4% predicted by analysts surveyed by Bloomberg.
“Developed markets remain challenging,” said Paul Polman, CEO of Unilever.
“Growth in the third quarter was adversely affected by poorer weather in Europe compared with last year and natural disasters in the Americas.”
Unilever’s personal care business grew primarily due to new launches in skin care.
New launches
Dove shower foam launched in the US, Europe and Japan, while Baby Dove was introduced into 26 markets.
New whitening brand Hijab Fresh launched this year aiming to appeal to Muslim Indonesian consumers.
Sales in deodorants were flat in Q3 with growth in the Americas offset by declines in Europe and South Africa.
Meanwhile, the prestige business reportedly performed well, driven primarily by Dermalogica and Kate Somerville.
Dollar Shave Club, acquired by Unilever in 2016, was said to have been a stronger performer due to its increasing subscriber base fuelling double-digit growth.
To pursue growth in emerging markets, last month Unilever acquired skin care company Carver Korea for $2.7bn.
“We are starting to see signs of improvement in some of our biggest emerging markets including India and China,” added Polman.