Delaying Price Increases Dragged Down Colgate’s Q1 Results As Supply Costs Continue Climbing
High costs pummeled Q1 results down 17.9% to $559m. Net sales were up 1.5% to $4.39bn, with price hikes made late in quarter driving a 4% increase in organic sales. Hong Kong firm Hawley & Hazel Co., 50% owned by Colgate since 1985, relaunches Chinese name of its Darlie brand oral care line as Haolai.
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Unilever PLC partners with biotechnology company Genomatica to fund and scale plant-based alternatives to palm oil for personal care and cleaning products.
Colgate Sees Toothpaste Growth Opportunity In Under-Brushing Countries
“If you took all of these markets where people brush their teeth less than one time a day and just moved it to one time a day, you would increase the volume size of the category by 40%,” noted Colgate-Palmolive’s John Faucher in a 19 May presentation at the Goldman Sachs Global Staples Forum.
Revlon Sees Light Through Bankruptcy Tunnel, Expects to Emerge In April
New York-based Revlon, Inc. expects to emerge from Chapter 11 bankruptcy after a 3 April meeting with the Bankruptcy Court for the Southern District of New York. The firm says it has settled with a group of unsecured creditors and agreed to financial restructuring that should reduce total debt burden by about $2.7bn.