Magnum maker Unilever is set to post a slump in sales as its new boss steers away from a woke agenda.
The consumer goods giant is this week expected to report a drop for the December quarter, down 2 per cent year-on-year, as it struggles in the face of high inflation.
Investors have been spooked as consumers continue to shy away from Unilever brands such as Dove and Hellman’s mayonnaise in favour of cheaper supermarket own-labels.
Unilever shares have also slumped, down 6 per cent in the past year and hitting an 18-month low last month.
All this puts mounting pressure on new chief executive Hein Schumacher, who has vowed to turn the group’s fortunes around.
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Analysts at AJ Bell said investors will be looking for more detail about how he will grow shareholder returns, which he previously described as ‘not good enough’.
Schumacher, who took over from Alan Jope last July, has said Unilever would also stop ‘force-fitting’ social justice messaging on to brands.
He said this was a ‘distraction’ for some of their products and was instead now focused on growing the business.
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