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Unilever Cuts 2003

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By: TOM BRANNA

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Unilever revised its 2003 sales growth estimates due to competition in the U.S. laundry and personal care market and a weak consumer goods market internationally. Company executives said sales of its leading brands are expected to grow only 3% in the second quarter and 4% for the entire year. In response to the news, the company’s stock sank 11%. Previously, investors trusted in Unilever’s Path to Growth agenda, a five-year restructuring plan the company introduced in 1999. According to the P...

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