Due to a surprising 20% sales drop in China and 4% drop in Europe, @unileverusa’s 2.1% organic sales growth last quarter missed analyst expectations of 3.9%. Unilever believes the 20% sales drop in China (~4% of Unilever’s global sales) was due to retailer “de-stocking” because of China's slowing economy (7.3% GDP increase last quarter- lowest since 2009). Unilever's 4% sales drop in Europe was due to price declines and bad weather for ice cream. Furthermore, Brazil, its biggest developing market, is in recession and growth in India is sluggish. - Link