299
Fashion Jobs
L'OREAL GROUP
Assistant CRM Manager
Permanent · HONG KONG
L'OREAL GROUP
Key Account Manager
Permanent · HONG KONG
H&M
Total Rewards Manager, Supply Chain
Permanent · TSIM SHA TSUI
H&M
Accounts Specialist
Permanent · TSIM SHA TSUI
ESTÉE LAUDER COMPANIES
Assistant Demand Planning Manager
Permanent · HONG KONG
ESTÉE LAUDER - BRAND
Retail Marketing Manager, Estée Lauder
Permanent · HONG KONG
CLINIQUE
Assistant Education Manager, Clinique
Permanent · HONG KONG
CLINIQUE
Senior Marketing Manager, Clinique
Permanent · HONG KONG
TOMMY HILFIGER
Senior Manager, Creative Services, Tommy Hilfiger Asia Pacific
Permanent · HONG KONG
AESOP
Retail Consultant
Permanent · SHA TIN
NEWELL
Senior Manager, Indirect Sourcing
Permanent · HONG KONG
L'OREAL GROUP
Group Product Manager
Permanent · HONG KONG
ADIDAS
Senior Manager, Materials Availability Management
Permanent · HONG KONG
L'OREAL GROUP
Assistant Purchasing Manager (Marketing, Digital IT)
Permanent · HONG KONG
PUMA
Manager Innovation Technical Apparel
Permanent · HONG KONG
DR. MARTENS
Head of Financial Accounting, Apac
Permanent · TSIM SHA TSUI
TJX COMPANIES
Director of Sourcing, Apparel -Hong Kong
Permanent · HONG KONG
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Hysan Place
Permanent · CAUSEWAY BAY
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Yoho Mall
Permanent · HONG KONG
A & F
Abercrombie & Fitch - Brand Representative (Part-Time / Full-Time), Harbour City
Permanent · TSIM SHA TSUI
KERING EYEWEAR
Kering Eyewear Assistant Trade Marketing Manager Travel Retail
Permanent · HONG KONG
JAEGER
Training Manager
Permanent · HONG KONG
By
AFP
Published
Apr 20, 2018
Reading time
2 minutes
Download
Download the article
Print
Text size

Unilever Q1 sales drop as it prepares division sell-off

By
AFP
Published
Apr 20, 2018

Anglo-Dutch consumer giant Unilever Thursday revealed first quarter sales fell compared to last year, announcing a six billion euros ($7.4 billion) buy-back scheme ahead of the spin-off of its spreads division.


Dove


Turnover in the first three months was down 5.2 percent to 12.6 billion euros, falling from 13.3 billion euros reported in the same period in 2017.

But chief executive Pol Polman voiced confidence as the company prepares for some major shake-ups in its 88-year history.

"The first quarter demonstrates another good volume-driven performance across all three divisions," Polman said in a statement, highlighting a 4.0 percent sales growth in emerging markets.

He revealed that a six billion euros buy-back programme would be launched in May "to return the expected after-tax proceeds from the spreads disposal. We are raising the dividend by 8.0 percent, reflecting confidence in our outlook."

The company said in December that it had sealed a 6.8 billion euro deal to sell its spreads division to US private equity giant KRR, and Polman said the move was expected to be completed "in the middle of the year."

Based in Rotterdam, Unilever was founded in 1930 after the Dutch margarine producer Margarien Unie merged with British soapmaker Lever Brothers.

It has over 400 brands in its portfolio, including household names like yeast extract Marmite, PG Tips tea and Persil washing powder, Knorr soup as well as Dove beauty products and Magnum ice-cream.

Until now, it has maintained a dual-headed structure, with listings on the London, Amsterdam and New York stock exchanges.

But last month, the company also announced it was choosing The Netherlands over London to host its headquarters, dealing a blow to Britain's efforts to keep multinational companies onside following Brexit.

The move came in the wake of a failed hostile bid by US rival Kraft Heinz last year, which analysts said played a key role in Unilever's decision as the Netherlands has stronger rules to protect companies against takeovers.

Unilever employs some 169,000 people around the world, but the change in its structure will have no impact on its 7,300 employees in Britain and 3,100 in the Netherlands, the company said.

Copyright © 2024 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.