Unilever PLC said it lost some shoppers to generic store brands as the Dove soap owner pushed through big price increases to offset soaring commodity costs.
The London-based company on Tuesday reported an 8.8% rise in second-quarter underlying sales growth, driven by an 11% increase in prices. Volumes slipped 2.1%, driven by declines across all of Unilever’s major categories—home care, food and refreshments, and beauty and personal care.
