07.30.15
Colgate-Palmolive Co. reported a decrease of fourth straight quarter of sales in 6.5% to $4.1 billion. Nevertheless, global unit volume grew 3.0%, pricing increased 2.5% and foreign exchange was negative 12.0%. Operating profit decreased 5% to $932 million.
Ian Cook, chairman, president and chief executive officer, commented on the results and outlook excluding the 2015 and 2014 items noted above, "In the face of challenging macroeconomic conditions worldwide, we are pleased to have achieved another quarter of broad-based organic sales growth, driven by positive unit volume growth and higher pricing.
"All operating divisions contributed to the 5.5% worldwide organic sales growth, led by emerging markets where organic sales grew a strong 7.5%, despite economic challenges in certain countries.
"Colgate's leading share of the global toothpaste market strengthened to 45.0% year to date, up 0.5 share points versus the year ago period. Our global leadership in manual toothbrushes also strengthened with Colgate's global market share in that category reaching 34.1% year to date, up 0.2 share points versus the year ago period."
In closing, Cook commented, "As we look ahead, macroeconomic conditions and foreign exchange volatility remain challenging. Despite that, we anticipate another year of solid organic sales growth driven by a full new product pipeline across all categories and geographies.”
North America (19% of company sales) increased 1.5% in second quarter 2015. In the US, new product launches are contributing to volume growth. Market share gains year to date were seen in toothpaste, mouthwash, liquid hand soaps, body wash and fabric conditioners. Colgate's share of the toothpaste market strengthened to 35.2% year to date, up 0.2 share points versus the year ago period, driven by strong sales of Colgate Enamel Health, Colgate Optic White Platinum Express White and Tom's of Maine toothpastes. In manual toothbrushes, Colgate continued its brand market leadership in the US with its market share in that category at 41.4% year to date. Strong sales of Colgate Sensitive Toothbrush + Built-In Sensitivity Relief Pen, Colgate 360° Enamel Health, Colgate 360° Optic White Platinum and Colgate Extra Clean manual toothbrushes contributed to volume growth in the quarter.
Successful products driving volume growth in the US in other categories include Colgate Total for Gum Health, Colgate Total Lasting White and Colgate Kids mouthwashes, Softsoap Fragrant Foaming Collection of liquid hand soaps, Softsoap Fresh & Glow body washes, Irish Spring Signature For Men body wash and bar soap and Suavitel Fragrance Pearls fabric conditioner.
Ian Cook, chairman, president and chief executive officer, commented on the results and outlook excluding the 2015 and 2014 items noted above, "In the face of challenging macroeconomic conditions worldwide, we are pleased to have achieved another quarter of broad-based organic sales growth, driven by positive unit volume growth and higher pricing.
"All operating divisions contributed to the 5.5% worldwide organic sales growth, led by emerging markets where organic sales grew a strong 7.5%, despite economic challenges in certain countries.
"Colgate's leading share of the global toothpaste market strengthened to 45.0% year to date, up 0.5 share points versus the year ago period. Our global leadership in manual toothbrushes also strengthened with Colgate's global market share in that category reaching 34.1% year to date, up 0.2 share points versus the year ago period."
In closing, Cook commented, "As we look ahead, macroeconomic conditions and foreign exchange volatility remain challenging. Despite that, we anticipate another year of solid organic sales growth driven by a full new product pipeline across all categories and geographies.”
North America (19% of company sales) increased 1.5% in second quarter 2015. In the US, new product launches are contributing to volume growth. Market share gains year to date were seen in toothpaste, mouthwash, liquid hand soaps, body wash and fabric conditioners. Colgate's share of the toothpaste market strengthened to 35.2% year to date, up 0.2 share points versus the year ago period, driven by strong sales of Colgate Enamel Health, Colgate Optic White Platinum Express White and Tom's of Maine toothpastes. In manual toothbrushes, Colgate continued its brand market leadership in the US with its market share in that category at 41.4% year to date. Strong sales of Colgate Sensitive Toothbrush + Built-In Sensitivity Relief Pen, Colgate 360° Enamel Health, Colgate 360° Optic White Platinum and Colgate Extra Clean manual toothbrushes contributed to volume growth in the quarter.
Successful products driving volume growth in the US in other categories include Colgate Total for Gum Health, Colgate Total Lasting White and Colgate Kids mouthwashes, Softsoap Fragrant Foaming Collection of liquid hand soaps, Softsoap Fresh & Glow body washes, Irish Spring Signature For Men body wash and bar soap and Suavitel Fragrance Pearls fabric conditioner.