1113 GMT - Unilever PLC is among the most mentioned topics across news items over the past three hours, according to Factiva data. The Anglo-Dutch retailer reported a rise in both 2022 and fourth quarter turnover and underlying sales growth of 9.0% for the full-year--though within this, prices rose 11.3%, offsetting volumes that fell 2.1%. The question of whether Unilever has put its prices up too much has come to fore, as while consumers have gotten used to items costing more, there is still a certain point they become unaffordable or generic versions become more appealing, AJ Bell investment director Russ Mould said in a market comment. "Outgoing chief executive Alan Jope can boast 'strong topline growth' as his legacy, but under the bonnet it's plain to see falling margins, declining sales volumes, and a confused approach to strategy," Mr. Mould said. New replacement Hein Schumacher--who joins in July--will need to think quickly about whether to bring prices back down as inflation eases, as well as defining what the company will look like over the next decade. "Schumacher's in-tray is already going to be full before he's even stepped in the door," Mr. Mould said. Dow Jones & Co. owns Factiva. (joseph.hoppe@wsj.com)

 

(END) Dow Jones Newswires

February 09, 2023 06:29 ET (11:29 GMT)

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Unilever (EU:UNA)
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