Church & Dwight Improves On Meeting Demand, But Doesn’t Deliver Better Full-Year Forecast
Lowers full-year forecast for reported sales growth to 4% to 5% from an earlier estimate of 5% to 8% despite improving to 89% on meeting demand during the April-June period from 80% during Q1.
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Consumers’ Inflation Fatigue, Recession Fears May Put Health, Beauty Product Price Increases On Hold
Church & Dwight, Perrigo executives' comments at investor conferences could signal OTC drug, supplement and personal care product firms are moving from gauging pandemic impact on supply chains and consumer spending to anticipating shifts in consumer preferences and cost increases caused by inflation with recession appearing more likely every day.
“We expect higher input costs and transportation costs to remain elevated for the rest of the year,” says CEO Matthew Farrell. Firms lowers full-year outlook for net sales growth from previous range of 5% to 6% to around 5%.
FDA says warning to VPR Brands could be its first move to reign in sales of nicotine gummies. Statements on brand’s site could indicate sales of nicotine gummies for smoking cessation are on the rise even though the claim isn’t approved.