Unilever food sales drop as coronavirus closes ice cream parlors, other eateries
When will customers return to the ice cream parlor?
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London-based Unilever's foods and refreshment sales dropped 1.7% in the first quarter amid the coronavirus pandemic — and its ice cream sales were hardest hit.
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The reason? Unilever said consumers in its key markets, including Europe, Turkey and Latin America, avoided ice cream parlors and other eateries because of coronavirus.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| UL | UNILEVER PLC | 53.42 | +0.73 | +1.39% |
Unilever owns popular ice cream brands including Ben & Jerry's, Breyers, Klondike and Magnum.
"As the crisis hits countries around the world, we see upswings in sales of hygiene and in-home food products, combined with some household stocking, and near cessation of out-of-home consumption which is particularly affecting our food service and ice cream business," CEO Alan Jope said.
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Unilever is preparing for "lasting changes in consumer behavior" throughout the globe even as countries move into recovery, Jope said.