Breaking News

IT Restructuring Costs

December 5, 2006

Clorox posted a 2.8 % rise in quarterly profit, but company executives warned that annual profit could come in at the lower end of their forecast due to costs associated with an information technology restructuring program. Clorox earned $112 million in the fiscal first quarter ended September 30.
The company, which already increased prices on bleach, Tilex cleaners, Glad trash bags and other products this year to help offset higher commodity costs, said it would also raise prices on Kingsford charcoal in January.
The company, whose other products include Hidden Valley Ranch salad dressing and Brita water filters, said sales rose 5% to $1.16 billion, driven by the price increases.
Volume, which excludes price fluctuations, fell 1%. Clorox said that shipments of Glad trash bags fell due to competitive activity after Clorox raised U.S. prices on the bags by 15%, on average, in February.
The price hike on Glad trash bags was one of the largest percentage increases that Clorox has instituted since the onset of increased pressure for materials such as resins.
blog comments powered by Disqus
  • What's Next for the UK?

    Sarah Boumphrey, Euromonitor International||June 24, 2016
    Euromonitor weighs in on the implications for consumer product companies.

  • Henkel Grabs the Sun

    Henkel Grabs the Sun

    Ian Bell, Euromonitor International||June 24, 2016
    Euromonitor's Ian Bell on the impact the purchase will have on the US detergent industry.

  • To The Max

    To The Max

    Melissa Meisel, Associate Editor||June 20, 2016
    Velvet 59 is on the rise at locations like Ricky’s NYC.

  • Take Notice

    Take Notice

    Melissa Meisel , Associate Editor||June 1, 2016
    Packaging trends revolve around trendy artwork, eco-conscious materials—and portability is a plus too!

  • Virtual Reality

    Virtual Reality

    Christine Esposito, Associate Editor||June 1, 2016
    An update on nature-identical ingredients for cosmetics and personal care products.

  • Shiseido Advances in the US

    Shiseido Advances in the US

    Tom Branna, Editorial Director||June 1, 2016
    New facility in Windsor, NJ demonstrates its dedication to the US and other markets outside Japan.