Prestige Consumer Feels ‘5-Ounce Hammer' From Pandemic Headwinds
Prestige hasn’t totally escaped supply chain disruptions caused by shutdowns during the pandemic but it’s relieved to report a smaller impact than most consumer-packaged goods marketers. Slower cough/cold OTC sales also don’t slow its results.
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Inflation's impact on consumer spending will be front and center in sector’s quarterly reports, beginning with J&J on 19 April. Potential impact also from price hikes common from most firms since early 2021 in response to increasing costs. Russia’s invasion of Ukraine also will prompt comment.
Sales growth for OTC drug brands during latest quarter contribute to Prestige increasing its full-year guidance for FY2022, which ends on 31 March, for revenues growing around 9% to between $1.075bn and $1.08bn.
Cost increases initially spurred by supply chain disruptions by COVID-19 pandemic have been noted by businesses across consumer product industries since soon after novel coronavirus spread accelerated in early 2020. More recently, OTC drug, nutritional supplement and personal care product providers began noting inflation’s influence on costs.