10.30.15
Colgate-Palmolive reported worldwide net sales fell 8.5% to $4 billion for the third quarter 2015. Global unit volume grew 1.0%, pricing increased 3.5% and foreign exchange was negative 13.0%.
Net income decreased 7% to $653 million.
In North America—20% of company sales—net sales increased 0.5% in third quarter 2015. Unit volume increased 2.5% with 0.5% lower pricing, while foreign exchange was negative 1.5%. Organic sales increased 2.0% during the quarter.
Operating profit in North America increased 8% in third quarter 2015 to $258 million.
In the US, new product launches are contributing to volume growth. Market share gains year to date were seen in toothpaste, manual toothbrushes, mouthwash, liquid hand soap, body wash and fabric conditioners. Colgate’s share of the toothpaste market strengthened to 35.3% year to date driven by strong sales of Colgate Enamel Health, Colgate Optic White Platinum Express White, Colgate Total Daily Repair and Tom’s of Maine toothpastes.
In manual toothbrushes, Colgate strengthened its brand market leadership in the US with its market share in that category at 41.4% year to date. Strong sales of Colgate 360° Enamel Health and Colgate 360° Optic White Platinum manual toothbrushes contributed to volume growth in the quarter.
Successful products driving volume growth in the U.S. in other categories include Colgate Enamel Health and Colgate Kids mouthwashes, Softsoap Fragrant Foaming Collection of liquid hand soaps, Softsoap Fresh & Glow body washes, Irish Spring Signature For Men body wash, Palmolive Soft Touch Almond Milk and Blueberry dish liquid and Suavitel fabric conditioner.
Ian Cook, chairman, president and chief executive officer, commented, “In the face of challenging macroeconomic conditions worldwide, we are pleased to have achieved another quarter of strong organic sales growth, driven by positive unit volume growth and higher pricing… Colgate’s leading share of the global toothpaste market increased to 44.7% year to date, up 0.7 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 34.5% year to date, up 0.7 share points versus the year ago period.”
In closing, Cook said, “As we look ahead, macroeconomic conditions and foreign exchange volatility remain challenging. Despite that, we anticipate another year of solid organic sales growth in 2015 driven by a full new product pipeline across all categories and geographies.”
Net income decreased 7% to $653 million.
In North America—20% of company sales—net sales increased 0.5% in third quarter 2015. Unit volume increased 2.5% with 0.5% lower pricing, while foreign exchange was negative 1.5%. Organic sales increased 2.0% during the quarter.
Operating profit in North America increased 8% in third quarter 2015 to $258 million.
In the US, new product launches are contributing to volume growth. Market share gains year to date were seen in toothpaste, manual toothbrushes, mouthwash, liquid hand soap, body wash and fabric conditioners. Colgate’s share of the toothpaste market strengthened to 35.3% year to date driven by strong sales of Colgate Enamel Health, Colgate Optic White Platinum Express White, Colgate Total Daily Repair and Tom’s of Maine toothpastes.
In manual toothbrushes, Colgate strengthened its brand market leadership in the US with its market share in that category at 41.4% year to date. Strong sales of Colgate 360° Enamel Health and Colgate 360° Optic White Platinum manual toothbrushes contributed to volume growth in the quarter.
Successful products driving volume growth in the U.S. in other categories include Colgate Enamel Health and Colgate Kids mouthwashes, Softsoap Fragrant Foaming Collection of liquid hand soaps, Softsoap Fresh & Glow body washes, Irish Spring Signature For Men body wash, Palmolive Soft Touch Almond Milk and Blueberry dish liquid and Suavitel fabric conditioner.
Ian Cook, chairman, president and chief executive officer, commented, “In the face of challenging macroeconomic conditions worldwide, we are pleased to have achieved another quarter of strong organic sales growth, driven by positive unit volume growth and higher pricing… Colgate’s leading share of the global toothpaste market increased to 44.7% year to date, up 0.7 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 34.5% year to date, up 0.7 share points versus the year ago period.”
In closing, Cook said, “As we look ahead, macroeconomic conditions and foreign exchange volatility remain challenging. Despite that, we anticipate another year of solid organic sales growth in 2015 driven by a full new product pipeline across all categories and geographies.”