Hasta La Creative!

Unilever’s 2.1% organic sales growth last quarter missed analyst expectations by almost two percentage points due mostly to a surprising 20% sales drop in China and a 4% decline in Europe.

North America was a bright spot, along with personal care. The world’s second-largest advertiser also pointed out that it is meeting targets to spend less on advertising creative and production.

Unilever Chief Financial Officer Jean-Marc Huet said in a quarterly sales update call that spending on those “non-working” media costs declined four percentage points from a year ago to 20% of what Unilever spends on paid media. That’s in line with the long-term goal Chief Marketing and Communications Officer Keith Weed noted in December.

Continue reading at AdAge.com