Tom Branna, Editorial Director04.30.21
Propelled by double-digit gains in Asia-Pacific, Colgate-Palmolive said first quarter sales rose 6% to more than $4.3 billion. The company's global leadership in toothpaste (39.2% market share) and toothbrushes (30.6%) continued.
“The strong results reflect the impact of our increased investments in premium innovation, digital transformation and advertising. We continue to strengthen our capabilities in these areas and, while there is more to do, we are pleased with the progress we are making," said CEO Noel Wallace. “We continue to plan for increased advertising behind our brands and have an exciting pipeline of innovation planned for the balance of the year across all of our product categories."
By region, Asia-Pacific led the way with a gain of 16.5%. A-P was followed by Asia/Eurasia (8.5%), Europe (6.0%) and Latin America (2.0%). Only North America (0.5%) reported a sales decline, where the company said declining sales in the US were partially offset by gains in Canada.
The gains in Asia-Pacific were led by the Greater China region, India, the Philippines and Thailand. Sales gains in Latin America were led byBrazil , Mexico , Argentina and Colombia. In Europe, organic sales dipped due to declines in Germany and the UK, partially offset by gains in the Nordic countries and Switzerland. Sales in Africa/Eurasia rose on the strength of results in Turkey, Nigeria, South Africa and Russia.
“The strong results reflect the impact of our increased investments in premium innovation, digital transformation and advertising. We continue to strengthen our capabilities in these areas and, while there is more to do, we are pleased with the progress we are making," said CEO Noel Wallace. “We continue to plan for increased advertising behind our brands and have an exciting pipeline of innovation planned for the balance of the year across all of our product categories."
By region, Asia-Pacific led the way with a gain of 16.5%. A-P was followed by Asia/Eurasia (8.5%), Europe (6.0%) and Latin America (2.0%). Only North America (0.5%) reported a sales decline, where the company said declining sales in the US were partially offset by gains in Canada.
The gains in Asia-Pacific were led by the Greater China region, India, the Philippines and Thailand. Sales gains in Latin America were led by