“We are pleased that our stepped up advertising investment is indeed contributing to the acceleration of top-line growth worldwide,” said Chairman, President and Chief Executive Officer Ian Cook. “This growth was driven by healthy volume increases across Latin America, North America and Europe.
“Advertising investment increased both absolutely and as a percent to sales versus third quarter 2016 across every operating division. This increased level of spending should continue over the balance of the year in support of new products, our base businesses and longer-term consumption-building activities.
“Colgate’s leadership of the global toothpaste market continued during the quarter with our global market share now at 43.5% year to date. Our global leadership in manual toothbrushes also continued with Colgate’s global market share in that category now at 32.6% year to date."
Building on the company's successful implementation of the Global Growth and Efficiency Program to date, on Oct. 26, 2017, the Board of Directors approved an expansion of the Global Growth and Efficiency Program and an extension of the program through Dec. 31, 2019 to take advantage of additional opportunities to streamline operations.
In the US, Colgate maintained its leadership in the toothpaste category during the quarter with its market share at 35.5% year to date. Successful new products include Colgate Total Clean-In-Between, Colgate Optic White Beauty Radiant, Colgate Sensitive Smart White and Tom’s of Maine Rapid Relief Sensitive toothpastes. In manual toothbrushes, Colgate maintained its brand market leadership in the US with its market share in that category at 40.7% year to date, driven by the success of Colgate Total 360° 4 Zone manual toothbrush.
New products succeeding in other categories include Colgate Total Advanced Health mouthwash, Softsoap Hand Wash Plus Lotion, Softsoap Honey Creme & Lavender and Jasmine and Plum body washes and Irish Spring Pure Fresh body wash.